Good point John and I guess the actual answer is now we all have to keep records of everything we buy, just in case we sell it, so we can document if it was sold for profit or at a loss.

Honestly this is a great burden to the average person and over the top complicated for honest people who could be at risk for selling off some old things that are hanging around the house or garage. What a waste of time for everyone. I ask myself, does the IRS have time for this or is it just another law that will be unenforced except when they need to way to get back at someone?

Terrible decision.