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Eric BI think I got it right. It was Brian who said......."you are a hobbyist. That sale doesn't need to be reported"....... in reference to Mike.
And boxingcardman is correct when he says anyone can conduct a card business if they so choose. But the key word is "can" and my comment was that few on this Board "are". But I could be wrong.
The key is that there is little advantage to being a business versus a hobby. The main advantage is that a business can deduct net losses on a tax return and go back 3 years. So if you sold cards for $100,000 that you originally paid $150,000 for, the loss of $50,000 can apply to prior year's gains and cancel out taxes paid in those prior years. But I would say it is very hard to have net losses when cards in general have only appreciated in value in the long run.
Another advantage may be that losses in one business can offset gains in another busines.
But here's a strategy you can use when you sell cards for a big profit in one year. If you made a bad purchase, maybe even a reprint or a trimmed card you thought was good and paid full price on years ago. Go ahead and sell that reprint in the same year as a card you made a profit on. Then cancel out some of the gain with the loss.