Tax Deduction Questions
July 16th, 2009
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Question: Tax deduction question- playstation 3?
I bought and sold a Playstation 3 on Ebay and lost about $1,000. The 2 transactions were in 2006, from October to December. Is that tax deductible?
that doesn’t make sense though, you can claim losses on sales of collectibles like stamps and coins and baseball cards, it didn’t say anything about businesses
oh ok.. thanks
Answer: No.
Even if it was, it would have to be a business expense, as deductions on profits/loss are not allowed to the individual.
As a business expense, it would questionable. I don’t think an auditor would be convinced you started and stopped a business in the span of 3 months, and only made that one purchase.
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