Is it criminal to buy guns just to resale at a (high) profit?

[Lockout]

Make sure you keep your receipts. You know, so you can show the IRS what you did with that money you made.

I do actually

 

[NWSharpshooter]

I do actually

I figured.

 

[Lockout]

But it wouldn't be money I made but spent going shopping...have my paycheck to show where I got the money..

 

[CCW]

tap tap.

Lockout, is there any reason you continue to avoid my request to post your full name here?

 

[Lockout]

Lockout, is there any reason you continue to avoid my request to post your full name here?

Wesley Snipes

Got to go

 

[Vol91]

It is illegal to engage in the activity of selling guns with the intent of doing so for profit without an FFL.

This.
Such people should be thrown under the jail.

 

[Butshot]

If profit is more then 400 bucks a year you must report as income with IRS....

Example

I buy a TV from best buy and paid 1500 bucks new, and 3 days later I sold it to someone for 2000 bucks I have to report that 500 gain and pay tax on it

Nobody does this!

 

[Fatal_Bert]

I got a confession. I did 70mph in a 55mph zone today. I am no longer a law abiding citizen.

 

[captdave77]

Negative, if you have any income that is more then 400 bucks must be filed...You're talking about two different things now

If I bought a car for 4000 bucks and sold for 5999 bucks I have to report it

If I cut someones yard for 599 bucks I have to report it

You might wanna pick up a tax rules and laws book before guessing or go to your tax agrent and chit chat with them...

If I sell a couch for $500 that I paid $2,000 for years ago, I don't report a damn thing. That $500 can still go in my safe. If I have some home improvements done and I sell the scrap, I don't have to report a damn thing. Those are not gains.

How about the change jar? I come home everyday and empty my pocket change into a coffee can. When the coffee can is full I roll the change and put the cash in the safe.

 

[57tr6]

I got a confession. I did 70mph in a 55mph zone today. I am no longer a law abiding citizen.

You need to calcalate your fine and turn it in immediately and pray you are not hauled away to prison from your bed tonight!