In Reply to: Nope, capital gains tax is NOT double taxation... posted by Ivan303 on May 1, 2021 at 08:08:41:
Selling a product or service for a profit is not a capital gain at all. If the IRS was interested it would be taxed as income, cost adjusted if you made repairs or improvements.
This post is made possible by the generous support of people like you and our sponsors:
Follow Ups
- RE: Nope, capital gains tax is NOT double taxation... - Utley1 05/1/2109:19:19 05/1/21 (15)
- Buy a home for $200,000.... - Ivan303 09:49:30 05/1/21 (14)
- RE: Buy a home for $200,000.... - Utley1 10:03:56 05/1/21 (13)
- If I find a Rembrandt at a garage sale... - Ivan303 10:33:01 05/1/21 (12)
- Psssst.... - tinear 12:42:22 05/1/21 (0)
- RE: If I find a Rembrandt at a garage sale... - rivervalley817 10:54:30 05/1/21 (0)
- RE: If I find a Rembrandt at a garage sale... - Utley1 10:51:19 05/1/21 (1)
- RE: If I find a Rembrandt at a garage sale... - rivervalley817 11:15:37 05/1/21 (0)
- RE: If I find a Rembrandt at a garage sale... - Utley1 10:47:17 05/1/21 (7)
- Hmmmmm........ - Ross 15:11:13 05/2/21 (0)
- A Giotto? I could only find this: - tinear 12:48:16 05/1/21 (4)
- RE: A Giotto? I could only find this: - Utley1 13:15:35 05/1/21 (0)
- RE: A Giotto? I could only find this: - Utley1 13:03:19 05/1/21 (2)
- I wouldn't burn a Cimabue in the fireplace... nt - tinear 06:37:57 05/2/21 (1)
- RE: I wouldn't burn a Cimabue in the fireplace... nt - Utley1 08:47:41 05/2/21 (0)
- RE: If I find a Rembrandt at a garage sale... - rivervalley817 11:09:35 05/1/21 (0)