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Comment on If you resold Taylor Swift Eras Tour tickets, the IRS is watching — A new rule from the IRS is punishing those who resold tickets for more than $600 in profit with a tax penalty

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sudo22@lemmy.world ⁨1⁩ ⁨year⁩ ago

Never said it was a bad system in general. But as a normal citizen not engaging in business I think paying taxes possibly 4 times (federal income tax, state income tax, sales tax when first bought new, sales tax when sold as used) on the same item is wrong.

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Squizzy@lemmy.world ⁨1⁩ ⁨year⁩ ago
You should not be paying tax unless you turned a profit on the sale.

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- sudo22@lemmy.world ⁨1⁩ ⁨year⁩ ago
  If you bought the bike years ago there’s a strong chance you no longer have the receipt/invoice.
  
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  - Stumblinbear@pawb.social ⁨1⁩ ⁨year⁩ ago
    You won’t need that unless you get audited, which is highly unlikely unless you’re doing questionable things consistently, and even then they probably wouldn’t care enough to look into a single bike sale too deeply.
    
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