Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - I'm a car salesmen, Go ahead and ask me anything

Fozzie_DeBear · 01-19-2008, 02:03 PM

I have a question about what happens if you make money on the sale of a car. Say I buy an Audi in the States for X, import it, drive it, then sell it for X+$7000. Should I count the $7000 as income, a capital gain or what?

01-19-2008, 02:03 PM	#424
Fozzie_DeBear Wucka Wocka Wacka Join Date: Nov 2003 Location: East of the Rockies, West of the Rest Exp:	I have a question about what happens if you make money on the sale of a car. Say I buy an Audi in the States for X, import it, drive it, then sell it for X+$7000. Should I count the $7000 as income, a capital gain or what? __________________ "WHAT HAVE WE EVER DONE TO DESERVE THIS??? WHAT IS WRONG WITH US????" -Oiler Fan "It was a debacle of monumental proportions." -MacT