New $600 IRS Tax Laws for 2022

cash is king.
be it at losses or gains

Let’s move on already… we should just ban the word “politician” as well… just talking about it more my lure in those who can’t help themselves.

And last I checked, the IRS isn’t gonna care if you sell items at a yard/garage sale a few times a year and reporting that income, they know most people are losing money from original purchase price/value. Now if you make all your income doing a yard/garage sale cause you’re out buying stuff to sell, then that’s a business and you gotta report that income.

Yes. I keep a spreadsheet of my comics I buy and sell in case the IRS ever has any questions about my eBay and such.

I was specifically meaning comics only at a comics only yard sale.
Oh yes… absolutely… all losses. All big big big losses… on record :slight_smile:

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Yup. Such a big loss on My Detective comics 27, Action Comics 1 and Amazing Fantasy 15. I think I sold those $1 lol :laughing: jk jk :stuck_out_tongue_winking_eye:

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There’s a reason why individual contractors in any line of business; not just comics, favor cash only transactions.