Comment Re:Already taxable (Score 1) 517
Actually, selling your own personal goods is not subject to income tax, even if there is an appreciation in the value (unless the item was bought for the sole purpose of investment). Buy a cell phone every 3 months then upgrading and selling the old one does not mean you have to pay income taxes on the sales of those phones.
And if you actually read the details, you have to sell over $20,000 and have 200 transactions in order for it to be reported. This is not for people who sell their cell phone every 3 months.