Iron Man
Banned
- May 7, 2020
- 1,108
- 3,011
yall so desperate for the chi 1. ya gonna bite on whatever gimmick JB throws at yall
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I really do question some of the stuff we as consumers eat up just to hoard and keep as ds in the closet. I find that I don't have the same passion for this hobby as I did a few years ago. Think my priorities are shifting as I get older in life. That's not to say that I still don't have stuff on my radar, but I definitely feel like I don't need to pay resell on all the stuff I miss out on. Plus I've been more selective in what I'm actually purchasing and keeping for myself. And with the new tax law, it makes it easier to skip on stuff and not try to buy something to just make a few bucks over retail.I have Spider-Man’s and La to Chi that are my chi beaters. Unloved says chi 85s are coming in the next 2 years. If that’s true these are not a must have, just a want to have.
Got so many Ds shoes I question this hobby. Got two pairs of the attack on titans which are really cool this weekend but If there are enough days for me to rock all these shoes!
This hustle is getting old with all these Frankenstein models they keep feeding us. And we keep eating it up
Yep, idk how it’s gonna look on my taxes when I sold some shoes for same price I paid for them. It’s not like I made a capital gain on them. . Does the irs really think I’m gonna pay taxes on the full sale price. Do we have to supply receipts that show our cost basis?I really do question some of the stuff we as consumers eat up just to hoard and keep as ds in the closet. I find that I don't have the same passion for this hobby as I did a few years ago. Think my priorities are shifting as I get older in life. That's not to say that I still don't have stuff on my radar, but I definitely feel like I don't need to pay resell on all the stuff I miss out on. Plus I've been more selective in what I'm actually purchasing and keeping for myself. And with the new tax law, it makes it easier to skip on stuff and not try to buy something to just make a few bucks over retail.
Yep, idk how it’s gonna look on my taxes when I sold some shoes for same price I paid for them. It’s not like I made a capital gain on them. . Does the irs really think I’m gonna pay taxes on the full sale price. Do we have to supply receipts that show our cost basis?
I read we are gonna get a tax form from resale sites annually.What tax thing changed?
About 4-5 years ago they changed PayPal reporting in my state.
You only have to report gains.
Keep a yearly spreadsheet of everything you sell. List what you paid for it, and how much you lost on all (or most of) your sales. Know what I mean?
I read we are gonna get a tax form from resale sites annually.
Assuming they offset with the losses if that's the case? Say I bought a shoe for 150 and sold for 100, (loss of 50) but then made 50 on another pair of shoes, my bill at the end would be a gain of 0? If that's the case, I should just cut my losses and sell at a loss for some bricks I got last year. NY AF1 and CLOT AM1's from GOAT. I have receipts to show my purchase price and that I'm taking a loss on certain pairs.What tax thing changed?
About 4-5 years ago they changed PayPal reporting in my state.
You only have to report gains.
Keep a yearly spreadsheet of everything you sell. List what you paid for it, and how much you lost on all (or most of) your sales. Know what I mean?
Assuming they offset with the losses if that's the case? Say I bought a shoe for 150 and sold for 100, (loss of 50) but then made 50 on another pair of shoes, my bill at the end would be a gain of 0? If that's the case, I should just cut my losses and sell at a loss for some bricks I got last year. NY AF1 and CLOT AM1's from GOAT. I have receipts to show my purchase price and that I'm taking a loss on certain pairs.
I find this comment hilarious. It's like condemning sneaker heads for being sneaker heads. And doing it with arguably the most sought after sneaker in the whole game. I gotta ask you, WTF are you even on this site for then? lol silly.yall so desperate for the chi 1. ya gonna bite on whatever gimmick JB throws at yall
Tax isn’t an issue tbh. If u have a loss. Just send them the purchase invoice from whichever retailer and claim COst of goods sold lossOnly YOU know how much you 'paid' for your shoes. Nobody's going to be looking for purchase receipts unless you're some HUGE reseller and have some type of business. And plus...don't forget you buy all your shoes from Johnny down the block, cash only.
When reconciling, confirm that you paid more for the pair than what you sold for. Because...that's 100% what indeed happened.
Tax isn’t an issue tbh. If u have a loss. Just send them the purchase invoice from whichever retailer and claim COst of goods sold loss
I genuinely hope these turn out well, but truthfully my expectations aren't just low, they're six feet under. The "reimagined" moniker does not sit well with me, given this is Jordan Brand we're talking about. Fingers crossed though.This thread is going to detonate like a nuclear bomb laced with Semtex and covered in C-4 puddy after the first official photo gets posted.
…I don’t think anyone is really prepared for it.
Where did the non-leather rumor come from?