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Pnly income is socisl security but sold gold jewelry in 2023 from my wife who passed in 2018 do i have to pay tax on this
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You would only have to report the sale if you made a profit on the sale of the jewelry. If you sold the jewelry for more than you paid for it, you would have a profit.
If you made a profit and had to report the sale of the jewelry, it would be considered a capital gain because it is jewelry.
Click here for information on capital gains.
Click here for additional information on reporting capital gains in TurboTax.
Click here for more information on the sale of personal items.
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