I sold my Lego collection. I got a good price because it was out of print. Do I have to pay tax on this money?
Whether to pay tax on the disposal of personal items depends on whether the items you want to dispose of have room for appreciation and the price of the items themselves. For personal items that have collection value and room for appreciation and are therefore classified as LPP, the appreciation or loss is calculated by subtracting the purchase price from the selling price; if there is appreciation, the appreciation part is subject to 50% VAT; conversely, if there is a loss, the loss is commercial and the amount can also be used to offset tax. For LPP items that have no purchase investment at all, such as gifts, regardless of whether the selling price is higher than the market price of the year, the entire amount at the time of sale needs to be counted as appreciation and the corresponding VAT must be paid. As for general personal items that are not expensive and have no room for appreciation, and are purely for personal use, the selling price and purchase price both start at 1,000. If the selling price or purchase price is less than 1,000, then whether you only make 0.1 or 990, you can keep it with peace of mind without having to declare tax. However, because the depreciation of general personal items is caused by non-commercial use, the depreciation part cannot be counted as a loss and cannot be used for any form of tax deduction. Do I have to declare tax after reselling personal items that I have used? For example, a used car? Old antiques? Old watches? Old bicycles? If the selling price is lower than the purchase price, can I deduct the tax? If it is higher? Can I avoid paying tax?
