Genetic
Headphoneus Supremus
- Joined
- Jul 8, 2003
- Posts
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- 11
Quote:
Quite simple.
1) The gift mention is not a real taxation problem. There is always a limit (often a $50.) and above this number the item is treated as an odinary sale for the residual exceeding part.
2) The real value of the item is probably the price the buyer realy paid for it. How on earth does the taxpeople will determine this figure? A higher challenge for the taxman: trying to find the true value in headphones trading...
3) Is it illegal betwen two individuals to sell an item below his fair market price? No. But the taxman is going after that fair market number. Does the taxman/official has the «time/human ressources/expertise» to meet the challenge of such a task?
Amicalement
Originally Posted by CamelBackCinema I am totally clueless about this. |
Quite simple.
1) The gift mention is not a real taxation problem. There is always a limit (often a $50.) and above this number the item is treated as an odinary sale for the residual exceeding part.
2) The real value of the item is probably the price the buyer realy paid for it. How on earth does the taxpeople will determine this figure? A higher challenge for the taxman: trying to find the true value in headphones trading...
3) Is it illegal betwen two individuals to sell an item below his fair market price? No. But the taxman is going after that fair market number. Does the taxman/official has the «time/human ressources/expertise» to meet the challenge of such a task?
Amicalement