Posted by Nathan (SD) on April 04, 2012 at 09:59:02 from (75.102.183.211):
In Reply to: Re: Cash sale posted by Mike (WA) on April 04, 2012 at 09:23:34:
Your reply was what I was thinking about. A deposit or cashed check of any kind is cosidered income to the IRS. It is up to you the taxpayer to prove why it is not taxable. And this would trigger the whole chain you described to: a.) try to prove their was no gain on the baler and b.) open a can of worms that could not be explainable about other transactions.
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Today's Featured Article - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
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