{"id":1704,"date":"2022-02-06T18:05:00","date_gmt":"2022-02-06T23:05:00","guid":{"rendered":"https:\/\/home.woodchuckhunters.com\/blog\/?p=1704"},"modified":"2025-02-06T10:18:58","modified_gmt":"2025-02-06T15:18:58","slug":"capital-gains-taxes","status":"publish","type":"post","link":"https:\/\/home.woodchuckhunters.com\/blog\/2022\/02\/06\/capital-gains-taxes\/","title":{"rendered":"Capital Gains Taxes"},"content":{"rendered":"\n<p>Subject came up at work when we were talking about cryptocurrency. Garage sale money (or ebay\/online sales) = NOT INCOME unless you&#8217;re selling an item that has improved in value. Anything that has appreciated is subject to capital gains tax on the profit.<\/p>\n\n\n\n<p>It&#8217;s our understanding the laws changed recently so money sharing apps like Venmo\/Cash App\/Paypal will be sending 1099-K when you have transactions exceeding $600. So if you downsize your house and sell off things on ebay, you&#8217;ll have to be able to prove what was or was not profitable (which would require knowing the cost basis of your items).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Subject came up at work when we were talking about cryptocurrency. Garage sale money (or ebay\/online sales) = NOT INCOME unless you&#8217;re selling an item that has improved in value. Anything that has appreciated is subject to capital gains tax on the profit. It&#8217;s our understanding the laws changed recently so money sharing apps like [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[27],"class_list":["post-1704","post","type-post","status-publish","format-standard","hentry","category-techy","tag-facebook"],"_links":{"self":[{"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/posts\/1704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/comments?post=1704"}],"version-history":[{"count":2,"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/posts\/1704\/revisions"}],"predecessor-version":[{"id":1707,"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/posts\/1704\/revisions\/1707"}],"wp:attachment":[{"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/media?parent=1704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/categories?post=1704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/tags?post=1704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}