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by richiezc
1635 days ago
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Apparently yes, I guess its no different from selling a home:
https://www.investopedia.com/terms/p/personaluseproperty.asp.... "KEY TAKEAWAYS
Personal use property is used for personal enjoyment as opposed to business or investment purposes.
These may include personally-owned cars, homes, appliances, apparel, food items, and so on." "Technically, the Internal Revenue Service (IRS) considers personal use property a capital asset and treats it differently than other types of property or assets.2 Taxpayers cannot deduct losses on the sale of personal use property, while a gain on the sale of such property is subject to taxation.3" |
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