Is it required to pay taxes on used items you sell on PBN?

Ravenstylea2 · 12-30-2011, 02:58 PM

Using PBN, I was wondering if I sell my clock or my paintball gun, if it was required to pay tax on it. Do I need to claim these things on my taxes? Help me out guys.

knnce · 01-01-2012, 12:06 PM

No you do not. Selling on pbn is just like selling to your friend except with shipping

monty97 · 01-01-2012, 04:37 PM

It is not considered income so no. If you have a pb business and you are selling on pbn then yes you would want to file everything sold when you do taxes.

R3L · 01-01-2012, 08:12 PM

Of course it's income. You should report your profits.

Ravenstylea2 · 01-01-2012, 08:55 PM

I got two seperate answers, yes and no. I am now more confused.

**USAFWD** · 01-02-2012, 12:45 AM

You do not need to pay taxes on personal items you sell. If you are a business... then I suggest talking with your business accountant.

prologix · 01-03-2012, 11:54 AM

The law says yes and you must turn over the sales tax to the state it is shipped to. (There are exceptions to this ie: not legal advice)
Reality: How are they going to know you sold something to someone in their state?
Also you need to report it as income and pay income taxes.
Reality: How would they know? (Dicer here the IRS knows stuff)

Ravenstylea2 · 01-03-2012, 04:11 PM

Thanks.

tonycon · 01-03-2012, 08:05 PM

**** the govt...they get enough of your money!

Ravenstylea2 · 01-03-2012, 08:52 PM

I think it's rediculous if I want to sell anything I own (which is my property), why I would have to pay a tax on it. So technically if this is true then we as Americans own nothing.

Skeemask · 01-04-2012, 09:28 PM

Legally, you are supposed to report anything you buy and pay local sales tax for it to your state. Also, anything you sell should be considered extra income, thus taxable.

Now that being said, no state really cares enough to pursue the issue. It would cost the state more money to track down purchases than you would have to pay in the end, so states don't care.

TL;DR States don't care so don't pay anything.

lcullum · 01-13-2012, 11:14 AM

no one is required to pay taxes. on anything, infact its against the law to pay taxes on anything. Pm me for more info

Skeemask · 01-13-2012, 03:04 PM

You sir, are in fact incorrect. It is completely legal to tax people. If it wasn't, don't you think one of our nation's many talented lawyers would have spoken out by now?

dynastyrebal · 02-04-2012, 01:53 PM

calebc · 04-04-2012, 05:47 PM

I don't understand how it's income for you to sell something (except when you are receiving more than you paid for it). If I'm not making money on the deal, it's not profit. I've already paid tax on the income I used to purchase ItemX, and when I sell it at a loss, I'm not generating any positive cashflow for myself.

Sales tax, I can agree with that, but I can't agree that selling something at a loss should be reported as income.

prologix · 04-09-2012, 02:07 PM

Income tax is more complicated, but what you may want to consider is how you would defend it in an audit. I am not sure you would be in the clear, although it would have to be noticed and to be noticed the amounts would need enough for them to notice. Us hobbyists probably fly below the radar.

Project ICE · 04-09-2012, 02:49 PM

whos to know if you ever even bought or sold anything from here?

liquidfiretibby · 04-09-2012, 03:22 PM

Quote:

Originally Posted by lcullum

no one is required to pay taxes. on anything, infact its against the law to pay taxes on anything. Pm me for more info

not quite. however the income tax is illegal. income as defined in the IRS law book is profits made by corporations. since none of us are a corporations, we shouldnt have to pay an income tax. also, by that same definition, anything you sell on PBN is not income.

in reality, you prov should pay taxed and report it, but you most likely wont get in trouble if you dont. like 99% unlikely to get in trouble