The answer provided by TurboTax. The answer is, it depends. If you're a student selling your books back, then no, you don't need to report it. For anyone that is buying books and selling them for a cheaper price, then no, you don't have to report that on your taxes. If your business is buying and selling books, then yes, that is a source of income for you and you will need to report that on your taxes.
For more information, visit: http://turbotax.intuit.com
If I sell my books after the semester, can I still deduct the amount I paid from my taxes, or should I deduct the difference between the purchase price and the sale price? Thanks
sefik66 11 months ago