is this subject to federal taxes like selling a house?
I'm going to sell my ancient Mustang. I know the state has a sales tax, but is this subject to federal taxes like selling a house?
If so, I am not sure what to use as a basis price. I bought it new for $2500 (bill of sale is long gone, confiscated when I registered the car) and of course I've paid for many repairs over the decades.
I didn't find the right solution from the internet.