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Kinda cool craig’s list story
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Addicted to MacNN
Join Date: Mar 2006
Location: California
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Clinically Insane
Join Date: Oct 2000
Location: Los Angeles
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Definitely a cool story. But I hope he knows to pay Uncle Sam his tribute. . .
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"The natural progress of things is for liberty to yield and government to gain ground." TJ
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Moderator  Join Date: Jun 2000
Location: inside 128, north of 90
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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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Moderator Emeritus
Join Date: Apr 2001
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Originally Posted by andi*pandi 
He didn't buy it, is there tax on trades?
[/url]
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.
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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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