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    lealmogupta's Avatar
    lealmogupta Posts: 2, Reputation: 1
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    #1

    Apr 7, 2010, 07:59 AM
    I have some personal course books which I sold on half.com, is the income taxable
    I have lot of personal course books and other books and some of them I sold on half.com. Is the income taxable and I need to pay taxes. Thanks for your help.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    Apr 7, 2010, 10:40 AM

    Selling personal property like this must be reported as a capital gain ONLY if the proceeds you received on the sale is greater than your original cost. If it is, then you have a gain equal to the difference between your selling price and your purchase basis. I would think that in the case of selling school books you probably received a lot less than you originally paid, so it's unlikely that you have a gain.
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