doublegunshop.com - home Forums General Discussion DoubleGun BBS @ doublegunshop.com Advice please! Non Collector MAY be ready to sell!

Bill, there is a capital gain accountable on Sch D in the event of sale of personal property for more than the basis in that property.

The basis in inherited property is established in the administration of the estate and is either the fair market value at the date of death or on the "alternate" date 6 months later.

And yes, I have personally filed capital gains on firearms.

Roscoe