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| Ammunition and Reloading Forum All about ammunition, reloading and reloading equipment |
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08-04-2020, 05:46 PM
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#1 |
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Soldier of Allah
 
Join Date: Dec 2008
Location: Crackerland
Posts: 31,662
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I traded a guy some 9mm brass.
He traded me some powder and a weaponlight.
Do I have to pay income tax on the powder and weaponlight? Or was this a non-taxable 'like-kind exchange' under section 1031 of the Internal Revenue Code?
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Racism will keep you alive. |
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08-04-2020, 05:55 PM
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#2 |
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slug
 
Join Date: Feb 2010
Location: Out by the lake in central Texas
Posts: 18,306
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Depends on if its a SureFire & what model.
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08-04-2020, 05:56 PM
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#3 | |
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Soldier of Allah
Join Date: Dec 2008
Location: Crackerland
Posts: 31,662
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Quote:
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08-04-2020, 06:15 PM
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#4 |
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slug
Join Date: Nov 2012
Location: Seattle, WA
Posts: 35,823
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What the fuck is 'income tax?' n alls dat!:zoot:
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Diesel 88888888  Duty is Action; Fight Or Die! Fight Or I'll Kill You Myself! 
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08-04-2020, 07:29 PM
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#5 | |
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Moderator
Join Date: Mar 2006
Location: The Great White North
Posts: 96,465
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Quote:
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Our forefathers would have already been shooting...by now. "Let your plans be dark and as impenetrable as night, and when you move, fall like a thunderbolt." "Violence of action means the unrestricted use of speed,strength, surprise and aggression to achieve total dominance against your enemy...any fighting technique is useless unless you totally commit to violence of action."Burning huts in commy vills worldwide since 1968 
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08-07-2020, 11:34 AM
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#6 |
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slug
Join Date: Dec 2007
Location: Allturd State
Posts: 21,867
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They’ll figure out a way to tax like-kind exchanges soon.
They got sales tax on internet sales and applied arguably ass to mouth logic to them. They may even add a tariff to it if the goods are foreign.
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08-08-2020, 06:28 AM
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#7 | |
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slug
Join Date: Mar 2007
Location: Astor Florida
Posts: 48,408
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Quote:
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God Bless Americas Veterans. All who are serving and have served. 
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12-27-2020, 01:18 PM
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#8 |
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Military Truck Collector
 
Join Date: Aug 2011
Location: North Florida
Posts: 668
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A guy @ work had a couple of 5 gallon plastic buckets full of brass that he couldn't sell so he gave them to a different co worker to put them in the corner of his new shop for ten more years. No income tax there either.
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