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re: The IRS is coming for your Venmo income
Posted on 6/8/22 at 8:54 pm to blueboy
Posted on 6/8/22 at 8:54 pm to blueboy
Take your L, bro.
You are forgetting the cost basis of your shitty couch.
If you paid more for your couch than you sold it for, there is no taxable gain.
You must report the proceeds to avoid a notice from the IRS but it does not impact your tax liability.
You are forgetting the cost basis of your shitty couch.
If you paid more for your couch than you sold it for, there is no taxable gain.
You must report the proceeds to avoid a notice from the IRS but it does not impact your tax liability.
This post was edited on 6/9/22 at 7:18 am
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