Very good advice from you all. No, my husband was never honest about what things actually cost. HOWEVER, I have a lot of sales receipts. And for the others, I am looking up the MSRP and putting it on the spreadsheet. I'm well over $70,000 in that column so far. Obviously, some things have devalued, but others have appreciated. So, it's a rough guess. I made him give me numbers for a lot of it several years ago to make sure our insurance agent had a spread sheet of it in case of loss.
Very good point about not making a profit. So, if it sells for less than he bought it for, then I don't have to claim as income? Or just not as gains? Interesting question. I'll check with tax accountant.
Y'all are a fount of good information. I really, deeply appreciate it.
Very good point about not making a profit. So, if it sells for less than he bought it for, then I don't have to claim as income? Or just not as gains? Interesting question. I'll check with tax accountant.
Y'all are a fount of good information. I really, deeply appreciate it.