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June 6, 2019
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I bought a used tractor last year fixed it up and re-sold it do i need to report the income?

  • June 6, 2019
  • 1 reply
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Best answer by Coleen3

Yes, if you sold it at a gain. The gain is found by subtracting the purchase price plus expenses from the sales price.

1 reply

Coleen3Answer
Employee
June 6, 2019

Yes, if you sold it at a gain. The gain is found by subtracting the purchase price plus expenses from the sales price.