selling my personal collection - No profit really

[oceanfreak20]

sorry if this is a duplicate question.

Long story short - i am selling in ebay just to want to get rid of my personal collection (pre-owned) mainly movies with an exception of very very few new items. Honestly, its like say I buy all those for $5k, i make $2k (as an example) as i feel selling in ebay is little better than local marketplace.

So, my assumption is that for tax filing, they don't care really how much i bought those items (of course most of them are online purchases with invoice/receipts) but i need to pay tax for additional income of $2k. Is that right? 

Or, if i can show my invoices, can i show as total loss?

[femmefan1946]

If you paid $5K for them, you are losing $3K when you sell them for $2K.

It is useful if you have the original receipts of course.

The market for DVDs has shrunk with streaming, the exception being cult movies and those that have not been picked up by streamers. 

The money you receive when you sell will be less than you paid when you bought.

My question would be the opposite, can you use the loss on these DVDs to offset your other income?

[oceanfreak20]

That's exactly what I am asking here.

In this case, what should i tell when i file my tax returns? Will $2k sit as additional income or can I show as $3k loss and where/how?

[reallynicestamps]

It's not income.

But how you show the loss, I would not venture to advise.

You need a tax accountant. Not eve H&RBlock. A specialist.