Please clarify what you mean by the “New Tax Laws of 2018”. Do you mean the Supreme Court ruling about the application of State Sales Tax on internet sales? Because if so, and I assume that’s what you are talking about, a court ruling about the application of state sales taxes has ZERO to do with how taxable gains are determined for Federal Income tax purposes.
Regarding sales tax, the tax is due on the gross sales price, apparently including shipping costs.
Regarding federal taxes, you only pay taxes on your gain (gross price minus basis and all costs). Thus, your example is flat out incorrect for federal tax purposes.
Last edited by Rhotchkiss; 01-20-2020 at 12:48 PM.
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