Yes, I usually give items I don't want anymore away rather than trying to sell them, both to avoid the hassle and because I don't need the money that badly. There's also the benefit of potentially helping other people out.
Reading that part again, the IRS probably only wants it reported if you sold the item for more than you bought it for originally. That would still require keeping records of the original purchase price of everything.
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chiming
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Date: 2023-04-05 07:00 am (UTC)From:Reading that part again, the IRS probably only wants it reported if you sold the item for more than you bought it for originally. That would still require keeping records of the original purchase price of everything.