If you sold something – a house, a car, some stock, or even gold or silver coins – you may have a capital gain or loss.
When we think of taxable income, most of us primarily think of our earned income, such as wages or self-employment income.
We don’t always consider the car we sold on Craigslist, or the stocks we cashed in.
From the perspective of the IRS, however, anytime you sell something, it’s potentially a taxable event. If you live in a state with a state income tax, your state may see it that way, too.