Selling personal items at a loss
Not taxable
Is Selling used stuff on facebook marketplace Taxable?
Short answer: No: selling your used couch, clothes, or car for less than you paid isn't taxable, but the loss isn't deductible either.
Sales at a gain (collectibles, sneakers, cars that went up in value) are taxable capital gains.
Records to keep: Keep receipts, statements (1098, 1098-T, 1099, W-2G), and a note of what each cost was for. Compare itemizing to the 2026 standard deduction before you claim.
Selling personal items at a loss
Not taxable
Individuals / Personal Taxes
No: selling your used couch, clothes, or car for less than you paid isn't taxable, but the loss isn't deductible either.
Business justification
No: selling your used couch, clothes, or car for less than you paid isn't taxable, but the loss isn't deductible either. Sales at a gain (collectibles, sneakers, cars that went up in value) are taxable capital gains.
Category
- Personal Tax Deductions