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Originally Posted by raulus
Not sure that I follow this strategy.
Obviously if you are a dealer, then this would make sense. But Sch C income is ordinary, and taxed at ordinary rates.
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Yes, but using cash basis for that year , it would all go in as sales and purchases
A hobbyist shows it as ordinary income and dch as deductions up to income only
Someone who randomly holds an item long term can have a CG or loss. Eg I buy a comic, which I'm not in business of selling pay 500 sell a couple years later for 6000. It is a capital asset producing LTCG. I used to be an acct
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