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https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/i-inherited-jewelry-then-sold-it-is-this-money-taxable/00/101674
Jun 01, 2019 · The Jewelry in itself is not Taxable but it is possible that the profit on the sale of the items is. This profit is based on the Fair Market Value of the items. At the time that you inherited the items the Fair Market Value becomes your Cost Basis which is the dollar amount used to …
https://vermajewelry.com/taxes-on-pre-owned-jewelry/
The tax rate is exactly the same as whatever income tax rate you file at. If you owned the jewelry you sell for more than a year, you pay a long-term capital gains tax. The tax rate will be 0, 15 or 20 percent depending on your filing status and taxable income. Is Inheritance or Gifting a Factor?
https://pocketsense.com/can-claim-jewelry-taxes-8250373.html
First, you reduce your total jewelry loss resulting from the theft by $100. From this amount, you must then subtract 10 percent of your Adjusted Gross Income (AGI). The result is the amount of your tax deduction. You will find your AGI at the very bottom of the first page to your Form 1040.
https://pocketsense.com/need-pay-tax-sell-gold-jewelry-6981.html
Dec 12, 2019 · According to the IRS, collectible items like gold and gems face a special long-term capital gains rate of 28 percent. If your normal income tax rate is lower than 28 percent, your ordinary income tax rate applies instead of the 28 percent rate. 00:00. 00:00 00:00.
https://turbotax.intuit.com/tax-tips/self-employment-taxes/tax-tips-for-selling-your-handmade-items-online/L7W21U9cC
Given the success of the online, handmade marketplace Etsy, sites like HandMade at Amazon are giving more people the opportunity to sell their handmade creations online than ever before. In addition to making money from these sales, it is important to understand the tax requirements when selling …
https://www.investopedia.com/articles/personal-finance/081616/understanding-taxes-physical-goldsilver-investments.asp
Feb 16, 2020 · Physical holdings in gold or silver are subject to a capital gains tax equal to your marginal tax rate, up to a maximum of 28%. That means individuals in the 33%, 35%, and 39.6% tax …
https://www.kiplinger.com/article/taxes/t055-c032-s014-selling-your-stuff-the-tax-dimension.html
Apr 26, 2019 · Normally the IRS long-term capital gains tax rates on investable assets are either 0%, 15% or 20%, depending on your taxable income and filing status. But not for the profits from the sale of...
https://www.irs.gov/faqs/interest-dividends-other-types-of-income/gifts-inheritances/gifts-inheritances
If you sell the property for more than your basis, you have a taxable gain. ... However, the executor of a decedent who died in 2010 may elect out of the Federal estate tax rules for 2010 and use the modified carryover of basis rules. Under this special election, the basis of property inherited from a decedent who died during 2010 is generally ...
https://www.findlaw.com/tax/federal-taxes/do-you-need-to-report-your-online-sales-to-the-irs.html
Jan 17, 2018 · The rule of thumb is that if you used the items and then sold them for less than you bought them for, then you owe no taxes on the sale. However, if you sold an antique or collectible that had appreciated since you first acquired it, you likely would be on the hook for taxes on the profit. Determining Whether Sales Are Hobby or Business
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