Hi. I've decided to sell my collections of books,
sport cards, CDs, records, guitars, sheet music, etc.
I'd end up selling most all at a loss. I do not have a buying
or purchasing business as all items purchased during the
past thirty years were/are for my personal collections.
If I sell personal belongings, do I pay taxes even if my items
are sold below what I paid for? for a loss?
Talking aboutCalifornia state income and Federal income taxes.
Thanks for your help.