We sold one of our cars today, I assume that doesn’t count as income since we already paid tax on the money that bought it to begin with?

Selling the car wouldn’t have any tax implications unless you made a profit.  The rule is for personal property if you make a gain you pay tax.  If you lose money tough luck.

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About taxdude8422

Basically I am just a tax nerd, have been all my life. However I have found the more open you are to opportunities the better off you will be in this world. That makes my what is know as an open networker on Linkedin, I will connect with anyone. I am not an expert on Linkedin by any means but one day when I was asking someone to connect I mentioned that I had just been refilled on invites. My new connect asked how I did that. I used that same line for the next month and got asked the same question four times. I started thinking there was a lot of little things it took my sometime to learn. Through this blog I plan to share some of those "Linked Secrets"
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