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 - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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