I appreciate that Bob. I have read all of your other posts, and I guess I already knew that, but it just sort of re-hit me last night as I started looking for proposed regs from the 1990s. BTW- I am recovering tax attny with a masters in tax law from Georgetown, who practiced for 7 years before giving up that racket. I worked on corporate and partnership deals, and never had occasion to learn about collectibles tax or really deal much with individual taxes. To that end, I - as most here- really appreciate your advice and posts!
Regarding the 1915 CJ question: you would have to go back to the date you bought the set and establish the approximate value of the Cobb as of that date, which should be pretty easy to do with VCP or just google. Take that value and subtract it from your current sales price and that’s your gain. Do your best, don’t be a pig, and document your methodology, and you should be fine.
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