Quote:
Originally Posted by MikeGarcia
..how long did he own it ? Does the IRS care if he's just selling an old baseball card from his personal collection , or is he selling an asset at more than he paid for it .......is there such a thing as ''unintentional , accidental, surprise !! 'profit ?
..?
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We're having some fun threads on Blowout because people don't realize they're supposed to pay Federal taxes on cards like all the thousand dollar Prizm basketball cards. Will be very interesting to see if the IRS ever gets involved in the sports card market.
They might be able to close the budget deficit next year... ;-)