Originally Posted by
lovestache
The advice was for Sale.
Literally nobody believes that. However, if it were true, providing advice for a fee is, well, income, and would be subject not only to income tax but also to the self-employment tax.
Originally Posted by
lovestache
Online sales of personal, used items do not generally have to be reported.Selling your old bicycle on Craigslist is an example of these types of sales. Losses on personal use property are not deductible on online sellers' tax returns. The rule of thumb is that if you used the items and then sold them for less than you bought them for, then
you owe no taxes on the sale.
Correct. However, a hypothetical transferrable GPU would not be personal property and therefore would not be exempt from reporting under this rule.
You need to understand the motivation of the law you're quoting. It's not a matter of trying to give people a break by allowing them to exclude these minor types of ancillary income. In fact, if you
could report that income, you'd want to do so! That's because you'd be able to deduct the cost of goods sold, and actually come out
ahead.