Selling Your Car or Buying From a Private Seller? Here Are the Tax Tips You Should Know
The first is that if you’re selling your car for less than what you paid for it, you likely won’t need to pay any sales tax on the sale because the IRS considers selling a used car for less than what you paid a capital loss. However, if you’re selling your car for more than what you paid (like if it’s a classic car you’ve restored and it’s increased in value), you may need to pay sales tax.
* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.
Tip adapted from CarGurus5
Stretches to Complement Your Workout
Here are some great stretches that will open up your hips, stretch out your hamstrings, and give your quads some love after a long run or lifting session:
Tip adapted from Runner’s World6
Footnotes and Sources
2. The Wall Street Journal, November 19, 2021
3. The Wall Street Journal, November 19, 2021
4. CNBC, November 16, 2021
5. cargurus.com, June 24, 2021
6. Runner’s World, June 24, 2021
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The forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.
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