[quote="Daniel Rogov Indeed, I know several people with major cellars who feel much the same. I am quietly waiting and dreading hearing about the first victim of the Internal Revenue Service or the English or Israeli equivalents. That has happened before with auctions, even though people were purchasing anonymously via second parties. It will happen with the net!!! Rogov[/quote]
Why is that ? If it is a hobby then any income derived from it is not taxable. If it becomes a trade then any profits are taxable
I was not thinking of profit made from re-selling or barter. I was thinking of the many people who do not want the tax authorities to know how much dispoable income they have whether spent on wine or other items.