Quote:
Originally Posted by Vegas Cards
If we now have to pay taxes on gains, can I offset the gains against my losses from collecting in the '80s & '90s? I'm still smarting from my investment in Score and Donruss collector's sets.
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Depends! Did you actually file tax returns back in the '80s and '90s reporting capital losses from the sales of all those Score and Donruss sets, and be sure to have had those sets treated and reported as investment assets, and not just as hobby collectibles? Assuming not, the answer would be no. And the statute of limitations to go back now and try to amend those returns passed decades ago. Sorry.