A Ma Maniere AJ3 - NO BUYING/SELLING/TRADING ALLOWED

Stopped buying J's since last year (been into AM90s now), but just impulsed bought AMMs for 470 on ebay. What have I done? Haha Before that I got the Japanese versions of the Denim 3s.
 
What size you wear? Haven't thought to check eBay for pairs of these.
I need prices to get up to a bit above $600 on SX/GOAT (and actually have people willing to pay that much) so I can unload a pair or two and basically just break even on what I paid plus all the stupid fees. No idea if or when that will happen LOL
 
the feds gonna try to tax you when that happens
I’m not to crazy about that, i Know exactly what you’re talking about :smh:
I’m actually curious how that tax is going to work. Is it like stock where you’d report a cost basis for each sale or is it just a percentage of the total sale price (I.e. you still owe tax even if you sell at a loss)?
 
I’m actually curious how that tax is going to work. Is it like stock where you’d report a cost basis for each sale or is it just a percentage of the total sale price (I.e. you still owe tax even if you sell at a loss)?
Closer to the former. You treat it like a business with COGS and expenses backed out to get to a taxable net income.
 
the feds gonna try to tax you when that happens
I’m not to crazy about that, i Know exactly what you’re talking about :smh:
I’m actually curious how that tax is going to work. Is it like stock where you’d report a cost basis for each sale or is it just a percentage of the total sale price (I.e. you still owe tax even if you sell at a loss)?
Closer to the former. You treat it like a business with COGS and expenses backed out to get to a taxable net income.
Er, don’t you have to reach a threshold of several thousand in sales per year before you get taxed? Or is there some new rule that everyone has to pay tax on every individual item you sell? If so, I missed that one.
 
Er, don’t you have to reach a threshold of several thousand in sales per year before you get taxed? Or is there some new rule that everyone has to pay tax on every individual item you sell? If so, I missed that one.

anything over $600/year will be taxable starting next year. I keep getting PayPal notifications regarding this.
 
I need prices to get up to a bit above $600 on SX/GOAT (and actually have people willing to pay that much) so I can unload a pair or two and basically just break even on what I paid plus all the stupid fees. No idea if or when that will happen LOL
You might be able to do so, I think it'll still be a highly sought after shoe a few years from now.
the feds gonna try to tax you when that happens
Know how much tax it's going to be? I made a few sales on eBay before they announced and barely eclipsed a little over $600.

Should have a decent size tax return next year, don't want them to take a good chunk of it.
 
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