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Kinda cool craig’s list story
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Jul 22, 2010, 02:04 AM
Big Mac
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Jul 22, 2010, 06:25 AM
Definitely a cool story. But I hope he knows to pay Uncle Sam his tribute. . .

"The natural progress of things is for liberty to yield and government to gain ground." TJ
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Jul 22, 2010, 08:33 AM
He didn't buy it, is there tax on trades?

There was a website a while back about a kid who started out with a paperclip and traded up.

Ah, here: one red paperclip
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Jul 23, 2010, 12:09 PM
Originally Posted by andi*pandi View Post
He didn't buy it, is there tax on trades?
Yes. You're presumed to have bought it and are taxed on the value the state deems it to be worth. Sometimes this is called a highway use fee, sometimes it's a property tax, but unless it was gifted by an immediate family member, there's no exemption.
If this post is in the Lounge forum, it is likely to be my own opinion, and not representative of the position of MacNN.com.

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