sorry but
As Jeff said you guys really, really, really need to speak to a CPA licensed in your state. Anytime you make over $600, from a source, they have to report it to the IRS. I don't think auction houses have to report as there is no cost basis, but you still would. Anytime you make a profit you need to report it. Follow those few things and you are probably close to being correct.....
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Leon Luckey
www.luckeycards.com
Last edited by Leon; 01-22-2010 at 03:24 PM.
Reason: clarification
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