Quote:
Originally Posted by Dandor
Of course, this is what you are supposed to do. How did you do this though? Did you file a Schedule D or Schedule C with the IRS? If you did this as a "hobby" you probably did it wrong. There are absolutely no deductions for a hobby, even though people take them. If you bought a card for $500 and sold it for $400, you would need to pay taxes on the $400 even though you sold it at a loss. For people that don't believe me, just wait until 2023 and you get a 1099-K form. Good luck trying make any deductions with the hobby form.
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I hire a tax professional. It's worth my piece of mind to hire one and pay him accordingly.