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<p>[QUOTE="900fine, post: 203592, member: 6036"]EXACTLY. The "burden of proof" is on YOU, brutha. The IRS doesn't have to prove what you bought it for.</p><p> </p><p>Keep all your receipts. Demand they give you one, or shop elsewhere. "Takes only cash, gives no receipts..." Hmmmm.... no trackable transactions....</p><p> </p><p>If you have no receipt, the IRS can, and may, argue you got it for $0 and ALL the proceeds from sale are taxable. Ouch.</p><p> </p><p><b>Being ethical and 100% honest is NOT enough when dealing with the IRS.</b> If you can't document it, it didn't happen. You must have documentation, or you're at risk.[/QUOTE]</p><p><br /></p>
[QUOTE="900fine, post: 203592, member: 6036"]EXACTLY. The "burden of proof" is on YOU, brutha. The IRS doesn't have to prove what you bought it for. Keep all your receipts. Demand they give you one, or shop elsewhere. "Takes only cash, gives no receipts..." Hmmmm.... no trackable transactions.... If you have no receipt, the IRS can, and may, argue you got it for $0 and ALL the proceeds from sale are taxable. Ouch. [B]Being ethical and 100% honest is NOT enough when dealing with the IRS.[/B] If you can't document it, it didn't happen. You must have documentation, or you're at risk.[/QUOTE]
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