[Boatanchors] (Almost OT) Re: New IRS Rule

[David Stinson]

(If you don't like rants, delete this right now.
  Don't whine and complain like a little prissy
if you decided to read it after being warned.
   In fact, if one is a said complainer,
put me on the "block" list while you're
at it.  I don't have time left to deal with "prissy.")

On 1/8/2022 8:52 PM, Rob Atkinson wrote:
"Also excluded is anyone who receives money from selling a personal
item at a loss; for example, if you purchased a couch for $300 and
sold it for $250, the amount is not taxable. "

Remember: if you don't have records of what you paid,
Uncle Scam's goons will decide what you paid.
Get a *old* notebook, date every entry (use six different pens)
and make the entries as close to your memory (and believable)
as you  can with whatever records you can find.
Estimate everything as close as you can. It will hold up as long as
it isn't in-your-face obvious that you wrote the whole thing
last Tuesday.

Someone asked about indexing purchase  prices for inflation.
Probably not.  Though a perfectly reasonable and valid point,
the goons won't understand it and don't want that means
of wealth confiscation compromised if they do.

"Dave!  Shame on you for recommending such things!"
I have no moral obligations to lying extortionist thugs
who hold a gun to our heads and tell us our
cooperation is "voluntary."
May their Father Below welcome them home.

I do not apologize.

"No one is so hated as he who tells the truth."
D.S.



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