My Tacoma up a creek. How f*cked am I?

Hey look, I'm back again!

 

It's fun, sometimes.

 

That looks like a road to me.

 

It was an honest statement and I stand by it. Sounds like he doesn’t care for TW. I can always find something interesting here. Reading other people’s builds and problems and solutions has taught be a bunch about my truck. If you are going to come in ever 6 months to put down the site then not come back for another 6 months then maybe it’s not for him.

 

Nice. I missed you lol

 

Trust me, I've learned plenty from this forum. I love my truck and the endless customization possibilities. Happy modding!!

 

You to my friend. See you in six months.

 

You are being deliberately obtuse if you can't see the difference between not paying some tax and knowingly selling a flood vehicle without disclosing

 

So breaking federal tax law is ok ? Are you breaking the the federal tax laws by not paying taxes on item you’ve personally sold ?

please let the internet know, I’m certain the government does not care Mr Obtuse !

 

Up shit creek obviously

 

You, compadre, are being a dum dum. Not paying proper tax is different from deceiving someone about the condition of a major purchase, that will most likely be a major headache with unforeseen costs and downtime, and possibly death if something fails at the wrong time. Even a computer failing that leaves you stranded on a very hot, or very cold day could be harmful or worse to a child in the back seat, for example.

And... You think the irs is on tacomaworld waiting for someone to admit that? Buddy guy

There is a different between rule breaking and immorality

Edit for this thick head -

You dont pay INCOME taxes on personal items, or vehicles, you sell online, unless you sold them for MORE than you bought them. And you don't pay FEDERAL taxes when you buy or sell your personal vehicle - that is, unless you made INCOME

 

Ok dum(b) dum(b), so now you’re ASSuming?


How many threads are in this forum about owners selling their vehicles to Carvana, Vroom, etc… Have you ever built something and then sold it (doubtful). Have you ever received or purchased something cheap and then resold it for more?


Lying and stealing is the same no mater who you do it to Mr Obtuse. I won’t continue with your B feast, but feel free to be yourself, or at least until you get home and your other half takes over.

 

Some of y'all need to chill the fuck out lol.

 

Harsh.

 

My goodness. I was here to find out what happened to the poor guy who got into a puddle that was too deep. OP, I do hope you come back and post a conclusion to your situation. I also wish you the best of luck.

One minor point, not to wade into troubled waters, as it were. You generally do not have to report taxes if you sell used items on line. For example, if you used the item, then sold the item for less than it was worth when you bought it, you owe no taxes on the sale. That is also generally true for other forums as well. If you are buying items wholesale and then selling them on Craigslist, you do have to report the sales and most likely need a certificate of authority to conduct business. But that is another story altogether.

In the case of Carvana, for example, they state pretty clearly on their site that as a seller: "Many people are confused about whether they need to pay sales tax when they are selling a vehicle. Thankfully, the solution to this dilemma is pretty simple: You do not need to pay sales tax when you are selling the vehicle. The buyer is responsible for paying the sales tax according to the sales tax rate in the jurisdiction where you sell the vehicle. The buyer will have to pay the sales tax when they get the car registered under their name. Do not let a buyer tell you that you are supposed to pay the sales tax."

Carry on ... I hope we can get back to the OPs initial situation and find out how it is going and how it gets resolved. Hopefully, in a calm manner and fashion.

 

Selling a Car for a Profit: IE, the latest Carvana, Vroom, etc threads.

When you sell a car for more than it is worth, you do have to pay taxes. Selling a car for more than you have invested in it is considered a capital gain. Thus, you have to pay capital gains tax on this transaction.

The amount of capital gains tax you will have to pay may vary depending on numerous variables, especially how much income you have from other sources. You do not have to pay this tax until you file your tax return for the year.

 

Yes, good point! That is indeed true. Although tricky if you factor in mods, etc. You may be able to claim that you sold the car for more than you paid, but you still sold it at a loss. I was speaking generally if you sold a car and did not sell for more than you paid for it.

But good point ... we will see how all of the discussions about capital gains shake out in the next year. If you have a business, you probably have multiple deductions you can levy against any profit ... but that is an accounting mess.

 

Agreed !


Funny thing is, the OP did the right thing and has never mentioned doing the wrong thing.

 

I think it was kind of suggested for him ...

The sad thing is I kind of follow these discussions because there have been a number of times where I have seen flooding and drove kind of around it but was curious what would happen if I got in a little too deep! Didn't matter so much with my 2005 because I had a fairly big lift on it. Deciding that I didn't need the lift for the 2020 but maybe I should re-think that! Ha.

 

what a mess...

And screw TurboTax. Next year I'm doing my taxes on TW!