Quote:
Originally Posted by raulus
All depends on whether you are:
1) a dealer
2) an investor, or
3) a personal collector.
I realize that term #2 carries a lot of baggage around here, so people are loathe to suggest that they are an investor. But you might find that the tax outcomes are a lot better as an investor! Just don’t tell anyone on this board about your tax filing position.
This article might help a bit as well, in terms of understanding some of the differences:
https://frblaw.com/2022/01/04/tax-co...s-card-market/ |
Thank you. I will definitely read that article. But if I fall into the "personal collector" category is the answer in my example $7000 or $4000?