Garage Sale Cash. Free Money! Josh was lying around his house frustrated by the lack of space in his bedroom, den, and garage. He has accumulated so much junk. He had an idea. Josh decided to sell his junk in a garage sale. This would free up space inside his house and in his garage. He could finally park his 1990 Ford truck in the garage. The following Saturday morning he had his garage sale. To his surprise, he collected $330 from selling his old junk. He thought to himself, "This is free money!" A week later, he had yet another grand idea. "I could go around to parents, friends, and other relatives picking up any junk they do not want. I could sell it. More free money! And, this could help pay the alimony for my ex-wife." So after collecting so many items from those he knew, Josh decided it was best to sell the junk at the local flee market where there would be more exposure. And, the possibility of selling all the items for a higher prices. Josh came home with $715! Now he could pay for his alimony for the next two months. What are the tax implications? Is this free money?

Josh was lying around his house frustrated by the lack of space in his bedroom, den, and garage. He has accumulated so much junk. He had an idea. josh decided to sell his junk in a garage sale. This would free up space inside his house and in his garage. He could finally park his 1990 Ford truck in the garage. The following Saturday morning he had his garage sale. To his surprise, he collected $330 from selling his old junk. He thought to himself, "This is free money!" A week later, he had yet another grand idea. "I could go around to parents, friends, and other relatives picking up any junk they do not want. I could sell it. More free money! And, this could help pay the alimony for my ex-wife." So after collecting so many items from those he knew, Josh decided it was best to sell the junk at the local flee market where there would be more exposure. And, the possibility of selling all the items for a higher prices. Josh came home with $715 ! Now he could pay for his alimony for the next two months. What are the tax implications? Is this free money