By SWest: Who lowered the reporting threshold to $600 a Year?
I'm pretty sure it was part of the American Rescue Plan of 2021 which included the $1400/2800 Econ Impact Payments, so it would have to be Nancy Pelosi & the Democratic Party, since every single republican voted against the legislation.
In one post you blamed the Republicans for defunding the IRS, and now you call out the Democrats for screwing over the people looking to offload some of their junk by lowering the reporting limit. All I can say is bully for you! I hate all politicians equally!
Regarding the reporting limit reduction, I think it started in 2022.
Guess I'm going to have to create a ledger showing all my costs. The entire thing is stupid, though. If I pay $100 for glass beads and they last for two years, am I supposed to amortize that over two years? I suspect the answer is yes, but how stupid can they be to think that people are going to go through all that. And who keeps all these stupid records? Paper towels, tools, carb dip, and how about electricity for the air compressor? How about repairs to the air compressor when it burned a motor capacitor? A new tip for the media blaster gun? On and on it goes. Honestly, it's not worth it.