So for the triangle inequality, I say the equality holds if and only if $x = y$.
Proof:
$|x+y| = |x|+|y|$
$|x+x| = |x|+|x|$
$|2x| = 2|x|$
$|2x| = |2x|$
Q.E.D.
Why is this incorrect, and that the equality only holds true when both the signs are the same or one of the number equals $0$ ? Thanks.
Check $$|3+2|= |3|+|2|$$
The equality holds with $x$ and $y$ not being equal.
So it is not if and only if statement, but if $x=y$, then we have $$|x+y|= |x|+|y|$$ as you have indicated.