I’m not an accountant or financial advisor. This is NOT financial or tax advice… do as you wish with this information. It’s how I understand your circumstances.

You pay taxes on capital gains… if you purchased an item for $600 and sell it for $700 you theoretically should be paying taxes on that net gain of $100. BUT, if you’re a business or sole prop, you should also be factoring the time, services, risks, and resources that you had to take in order to perform this $100 net gain transaction (for example, item has to get to client, ads, your time/salary, office space, vehicle depreciation, storage, etc). Speak with your accountant on selling items you already OWN and had PAID TAXES ON already. I don’t think these items constitute as “items purchased with intended for resale”. Though, with your resale for profit, you may have to write off a lot of expenses to offset your gains.

I’m not an accountant or financial advisor. This is NOT financial or tax advice… do as you wish with this information. It’s how I understand your circumstances.

You pay taxes on capital gains… if you purchased an item for $600 and sell it for $700 you theoretically should be paying taxes on that net gain of $100. BUT, if you’re a business or sole prop, you should also be factoring the time, services, risks, and resources that you had to take in order to perform this $100 net gain transaction (for example, item has to get to client, ads, your time/salary, office space, vehicle depreciation, storage, etc). Speak with your accountant on selling items you already OWN and had PAID TAXES ON already. I don’t think these items constitute as “items purchased with intended for resale”.