vix86

vix86 t1_j1gvmjg wrote

Okay. Hypothetically speaking if you are right (I'm not a CPA), then the old system that the IRS looked past, let people treat it this way because it worked and didn't fuck people over.

Pre-$600 BS, you could sell some of your used stuff (a TV, stereo system, etc) and wouldn't have to file it for taxes again. Example with new system that likely hits more people: When you bought that TV/Stereo/etc you used your income which they was taxed. Then when you sell it off used, they want to tax you again. You're being double taxed on your income. And this ignores sales/use tax as well.

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vix86 t1_j1ghdtl wrote

> There are a lot of tools, many free, that automatically or mostly automatically keep track of income and expenses and spit out a formatted spreadsheet at the end of the year with all the documentation that the IRS needs.

This is pointless for the guy you replied to though. They said they were moving and ebayed stuff, that means they were probably clearing out old stuff they didn't need any more or want to take with them.

They're saying they made no profit because they most definitely sold it for less than they bought it for, but I doubt the IRS cares about this point -- they'll want to see receipts of the original purchase. You might be able to get away with showing historic records, like an ad or archived page for say a 7-10 year old fridge you got from Best Buy or Sears, but what if its a 15-20 year old dresser or bed frame that you can't even recall where the fuck you got it? This is the problem.

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vix86 t1_ityecpi wrote

> I worry they will begin using more and more of the (now historical for almost two decades for some accounts) data they have to open new revenue streams

That data ain't worth jackshit. If it actually was, Facebook would have tapped into it long ago when they were more directly beefing with Google.

Plus, the older data gets, the less useful it is. No advertiser cares what 21 year old, Joe, was into now that he's in his 30s and only occasionally posts baby pictures.

As it stands, Google has shown that knowing consumer habits always trumps what you are writing on your Feed/Wall.

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