$35k Goodwill Watch Find

[GibH]

If you sell it at a loss, you claim it as a short term capital loss against your short term capital gains (most of the things you buy and sell are short term capital gains, unless you hold it for more than a year, than it is a long term capital gain or loss, as the case may be).

That is why I hire a professional to do my taxes...

I said you can't claim a loss on personal property.That is different than capital gain or loss. If you profit from the sale of personal property, you are expected to claim it as unearned income. Again, this is on personal property, not investments.

 

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[JimDon]

Am I the only one thinking that goodwill is putting these things out there as a publicity stunt. That's got to be worth millions in free publicity and will drive tons of traffic to their stores. I smell a rat

 

[Drmad7]

I don't think so. Goodwill likes the publicity...but the manager who let that slip by on his/her watch had a talk with their boss I'm sure. They may have taken lemons and made lemonade, but they do not like to sell expensive items that cheap!

 

[OldSowBreath]

When I saw the article, I thought, "Well, forget going to Goodwill for a while." Then I realized, I gave up on them a long time ago.

As for as notoriety, remember what Andy Warhol said.