Technology

59217 readers

2864 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

[email protected]

560

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 (gizmodo.com)

submitted 1 year ago by [email protected] to c/[email protected]

108 comments fedilink hide all child comments

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::A new rule from the IRS is punishing those who resold tickets for more than $600 in profit with a tax penalty.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] -3 points 1 year ago (20 children)

Already paid tax thing is not applicable, it's literally how taxation works. The government gets their share at each point. Everytime a taxable good changes hands, with exception, the tax is applied again.

[–] [email protected] 2 points 1 year ago (19 children)

I know that's how it works. I'm complaining because the way it works is bullshit.

[–] [email protected] 5 points 1 year ago (18 children)

Well taxation is completely necessary unless you have a steady stream of cash flowing into the government from another source, which almost no country has and no country will have indefinitely.

We can argue about rates and cut offs but taxation in general is not a bad system

[–] [email protected] 0 points 1 year ago (1 children)

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.

[–] [email protected] 4 points 1 year ago (1 children)

You should not be paying tax unless you turned a profit on the sale.

[–] [email protected] 0 points 1 year ago* (last edited 1 year ago) (1 children)

You're right but, If you bought the bike years ago there's a strong chance you no longer have the receipt/invoice.

[–] [email protected] 1 points 1 year ago* (last edited 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.

I've been audited. It wasn't that difficult and I didn't need every last individual scrap of information

load more comments (16 replies)