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Old 03-23-2021, 10:44 AM
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D. Bergin D. Bergin is online now
Dave
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Join Date: Apr 2009
Location: CT
Posts: 6,859
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Speaking as "Not an accountant"..........you should probably talk to an accountant.

But..........If you plan on doing it long term, and showing a profit from year to year, it would probably benefit you to run it as a business, rather then a hobby. It will open you up to more write-offs against your gains.

Biggest question is, do you want to do all the extra paperwork and record-keeping that comes with that? Is that worth the hassle, rather then just boxing up all your stuff, sending it to an auction house, and paying the capital gains tax on top what you claim to have originally have paid for your collection.
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