Comic Art Live questions 2 2

[Rick2you2]

On 11/9/2023 at 10:42 AM, artdealer said:

What do you think?

Yea, well, maybe I’ll get lucky. What’s that old saw about if you ask 100 women at random whether they would sleep with you, one will say yes?

[PhilipB2k17]

On the tax thing. You ALWAYS had to pay taxes on capital gains. You would technically have to pay this tax if you made a cash deal in your living room. The only change the law made was that now Pay services like PayPal issue a 1099 so you can't avoid paying the capital gains tax if you use those services. The reporting Threshold is $600, but it's not a new tax. 

Edited November 9, 2023 by PhilipB2k17

[KirbyCollector]

On 11/9/2023 at 4:39 AM, vodou said:

Hey, play with fire…seriously…go for it, if that’s your line in the sand…it won’t be any of us that will be audited, and penalized, for your incomplete or false reporting!

Are you from NJ? Only people from Jesery are this big of a knob

[Rick2you2]

On 11/9/2023 at 3:26 PM, KirbyCollector said:

Are you from NJ? Only people from Jesery are this big of a knob

Are you kidding? We used to be known as the Soprano State. We have a Senator under indictment who had gold bars in his house. Panty-wastes can go join Jimmy Hoffa’s body parts in the Meadowlands.

[redrighthand]

On 11/9/2023 at 11:04 AM, PhilipB2k17 said:

On the tax thing. You ALWAYS had to pay taxes on capital gains. You would technically have to pay this tax if you made a cash deal in your living room. The only change the law made was that now Pay services like PayPal issue a 1099 so you can't avoid paying the capital gains tax if you use those services. The reporting Threshold is $600, but it's not a new tax. 

There did used to be the "garage sale" rule, which was ill-defined but there's was wiggle room to go either way, but by lowering the reporting, it kinda de facto quashes that rule. So it's not a new tax while also being a new tax.

Isn't the US tax code grand? Don't get me started on the tax prep lobby.