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Posted by Ernie Klein on April 6, 2008, 8:33 pm
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> Last year I sold some old equipment (cameras, projectors) to the state
> university. The total amt. of this one time sale was a bit over $500.
> I sold it for less than I paid originally, but doubt I have the
> original receipts. Do I have to declare this and if so, where do I
> list it? How can I determine the basis for the items without receipts
> and since these items are no longer in production?
>
> I am not in business of any kind and just sold the stuff to clear out
> my closets since they were sitting there for years.
>
Not sure what your question is.
You said you sold it, not donated it, so it doesn't appear that you are
looking for a charitable donation.
You say you sold it for less that you paid, so you don't have any
capital gains to report.
All you did was get some of the money back from your purchase - money
that you paid tax on when you earned it.
There does not seem to be any tax event here at all.
--
-Ernie-
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