Problem:
An individual taxpayer sells some used assets in a garage sale. Why are none of the proceeds taxable in most situations?
What usually constitutes evidence of a "sale" of property for tax purposes?
What is the difference between a "worthless security" and "1244 stock"?
How is it possible to have a casualty gain from the disposition of depreciable business property held more than a year? Is the gain initially a 1231 gain?