Last edited Fri Dec 23, 2022, 06:07 PM - Edit history (1)

How does the IRS have the authority to just ignore legislation passed by congress and signed by the president?

Wouldn't it be up to congress to repeal it ? They just had the chance this week and didn't.

My wife has a collection of Star Wars items from her childhood. She payed for each & every one of them with a Ca. tax added.

I have been working on pocket watches for the last 8 years. I planned to sell the better ones to help my family before I passed. The taxation level would have made it useless.

Please leave the little folk alone.

If the Star Wars items or picket watches sell at a profit, the income is still required to be reported regardless of whether or not a 1099 is issued.

Under that definition, all sales taxes, gas taxes, and property taxes aren't justified. People already paid income taxes on the money on all of those.

How about profits from things like stocks and bonds? If Jeff Bezos sold me stock in Amazon twenty years ago for $5 a share and I sell it tomorrow for $5000 a share, I shouldn't have to pay any taxes on it because I was taxed on the original $5?

Your rationalization that until the rich are paying their fair share, everyone else in the country should get a green light to be tax cheats is laughable.

Regarding the $600, it was part of the American Rescue plan legislation in March of 2021. Like it or not, Democrats included it to get revenue from all the people working cash gigs. Not one Republican voted for the ARP.

In my state that is how the majority of state services are funded, including schools. Most all internet sales from out of state are also taxed automatically, so I don't know how they are optional. How are sales taxes passed down to the consumer when we are the ones paying them?

Even understanding that paying taxes on income and then also paying taxes when you spend it is double taxation, I don't see a problem in states having sales taxes. Most people recognize that paying for government services is a responsibility of living in society. If you don't think they are necessary, I don't know what to say.

I don't think that people's ebay and garage sales should be taxed either, but I wasn't the one in congress that voted to make it law. They inserted that provision on purpose, and they are the ones that deserve all the criticism. The sad thing is that it was our own party that did it. Maybe they don't care because I doubt they are selling anything on ebay anyway

The sales tax that your wife paid is added to the basis (i.e., your cost) of the item. When you sell that item, the basis (i.e., your cost) is subtracted from your gross profit. What's left over after the basis — plus any other deductions you can take — is deducted is the amount that's taxed.