Quote:
Originally Posted by ullmandds
if you are an investor...yes...collector...no! That's f'ed up isnt it!
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Not just f’ed up… it’s criminal. They even let you deduct gambling losses (or at least they used to).
So if you sell 10 items… lose a combined total of $5K on nine of them, but net a profit of $1K on one of them…. You’re on the hook for $1K in taxable income? Even though you’re down $4K for the total sale? I can see why people want to avoid reporting, if the system is really that rigged against you!