(Topic ID: 307200)

Will Pinside have to report sales to the IRS with new 2022 tax laws?

By daly124

2 years ago


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  • Latest reply 2 years ago by bigguybbr
  • Topic is favorited by 12 Pinsiders

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    #16 2 years ago
    Quoted from purbeast:

    But what if you sell a game for cost or at a loss? It could still be a multi thousand dollar sale that reports as "income" but it's not actually any profit.
    That is where the whole thing crumbles and I have a huge problem with it.
    If I sold my JP for $6549 which is exactly what I paid for it NIB, I'd be selling at a huge loss with all the stuff I've done to it, but to the IRS it would seem like it's straight up income.
    I stopped using paypal last year because they changed it to $600 in total income in my state starting 2021.

    Beg the government for your money back. Don't forget, when groveling to our feudal lords, it is best to let them think they are blessing us with a gift rather than giving us back what is rightfully ours.

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