Taxes
I have always understood it this way.
Paid 15k for a card. Sold the card for 20k. Income tax is paid on the 5k profit.
Paid 1k for a card. Sold the card for $20k. Income tax is paid on the 19k profit.
Different rules may apply in different states. Where I live the income tax is about 25% of the profit I think.
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