Quote:
Originally Posted by calvindog
When you sell the card do you consider as part of your basis for tax purposes the buyer's premium?
Of course, and the shipping cost as well.
I mean assuming you ever declare profits or losses re cards on your tax return.
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And yes, I do pay Federal & Virginia income taxes on my bb card profits (doesn't everyone?). For this reason, I much prefer to trade, rather than sell, cards that I acquired 10 - 20 years ago, so as to defer the income taxes.
Val