2016 Model S 60 Facelift AP 1.0 RED Multicoat, Black leather interior

[bkp_duke]

All of my posts said talk to an accountant. I'm just posting my experience. I think the IRS can extend the years to audit if they like. I have received a letter from the IRS after 5 years about stocks I sold because etrade didn't deduct the cost per share my employers had given me. They said I owe taxes on $350,000 but that money went to the company I worked for because that's how much the stocks were when I was hired. All I had to do show them the paper works.

Also if it's only 3 years then why my work makes me keep all reimbursement, donations, and R&D spends for 7 years?

350k probably pushed you past the 25% mark in income differential (reported vs. actual), so that is one of the exceptions that allows the IRS to go back as far as 6 years. (see my above link).

Regardless, your "advice" that someone has to pay taxes on a selling a used car (again, assuming NOT a business-owned car, and NOT selling it for more than the initial purchase price) is flat our wrong. Nothing "grey area" there, it's just WRONG ADVICE.