Quote:
Originally Posted by savedfrommyspokes
For many years, my expenses far surpassed my income while buying-selling cards for my collection. If your expenses offset your income, which it will for many collectors, it is simply a matter of documenting the said expenses and including them on your return to offset your gains.
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Do not believe that's true unless you can substantiate that you are running a business and not a hobby. Occasional sales probably a hobby. Can't offset hobby expenses.
That's always been my understanding.