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> OT:When You Sell a Car/Vehicle, 1 or 2 a year do you report it to IRS?
Bruce Allert
post Mar 5 2005, 01:31 PM
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I've sold a car now and then, maybe 1 a year and I was told that I should report it as income. I figure I initially paid for the car and actually lost money due to depreciation so I feel I shouldn't need to report it.

What'cha all think or know???

thanks.........b (IMG:http://www.914world.com/bbs2/html/emoticons/beerchug.gif)
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Bruce Allert   OT:When You Sell a Car/Vehicle   Mar 5 2005, 01:31 PM
Headrage   I've sold a few cars over the years but never ...   Mar 5 2005, 01:50 PM
fiid   I would think if you declared the sale money as in...   Mar 5 2005, 02:00 PM
fiid   BTW - YMMV - see a professional for real advice. ...   Mar 5 2005, 02:02 PM
Lou W   Never heard of anybody ever doing that, if you had...   Mar 5 2005, 02:29 PM
Porsche Rescue   I believe if you make a profit after costs it is t...   Mar 5 2005, 02:29 PM
Gint   Fuch no! If you were to report it, I'm su...   Mar 5 2005, 02:57 PM
carambola   isn't the state getting it's payola due to...   Mar 5 2005, 03:39 PM
neo914-6   This was years ago but a Honda/Acura mechanics sh...   Mar 5 2005, 03:40 PM
!   WHAT???? It's not enuff that you have to pay ...   Mar 5 2005, 03:42 PM
Bruce Allert   This IS everything I wanted to hear
 

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