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 Does an individual have to pay tax on money received for the sale of jewelry?

Answer On One Hand: Is it a capital gain or loss?The sale of jewelry is considered disposition of a capital asset by the IRS. If the money received is more than the jewelry's original cost/value, the diff... Read More »
http://www.answerbag.com/q_view/1943818

Top Q&A For: Does an individual have to pay tax on money rec...

Does an LLC have to pay income tax in every state where money was received?

LLCs do not have to pay income taxes in every state where money was received. The owners of the LLC report the income of the business on their personal income tax forms. The actual business does no... Read More »
http://www.answerbag.com/q_view/2235666

Do I have to pay tax on money received as a beneficiary to a CD?

According to the Go Banking Rate website, the estate of the purchaser of the certificate of deposit (CD) designated for a beneficiary typically pays the taxes due for the CD, but the beneficiary ma... Read More »
http://www.answerbag.com/q_view/2148164

Do you have to pay income tax on money received?

All money received must be reported as income and is subject to federal income tax, unless it's statutorily exempt. Gifts, inheritance, some awards from the courts and municipal bonds are examples ... Read More »
http://www.answerbag.com/q_view/1958667

What Schools Have Received Money From the North Carolina Lottery?

Established in 2005 by the North Carolina State Lottery Act, the North Carolina Education Lottery (NCEL) utilizes lottery revenue to benefit public schools throughout the state. Though 65 percent o... Read More »
http://www.ehow.com/info_7899982_schools-money-north-carolina-lottery.html


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