Quote:
Originally Posted by Angyale
Say you buy a card for $1000, hold onto it for 10 years for a long term gain, pay $300 to get it graded at SGC then sell it for $4500 and pay $30 for registered mail shipping. Do/can you count the grading fees and shipping as an adjustment in column (g) of part II of your 8949 form and then pay taxes on the resulting net gain of $4500-$1000-$330=$3,170 column (h)? Thanks in advance!
Angyale
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Yes. All of your costs to acquire (or improve) the asset are included in your basis. Costs to sell also reduce your gain.
[insert jokes here from the anti-grading crowd about how grading actually devalues the card rather than improving it.]
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Trying to wrap up my master mays set, with just a few left:
1968 American Oil left side
1971 Bazooka numbered complete panel
Last edited by raulus; 03-28-2025 at 10:34 PM.
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