View Single Post
  #22  
Old 11-24-2020, 02:40 PM
GeoPoto's Avatar
GeoPoto GeoPoto is offline
Ge0rge Tr0end1e
Member
 
Join Date: Dec 2018
Location: Saint Helena Island, SC
Posts: 1,419
Default

I am not a lawyer, accountant, or experienced "hobbyist taxpayer". Using common sense, however, I would suggest that the taxable activity is the gain (if any) from selling your cards. The gain is the net sales proceeds minus the original purchase price (including BP and shipping). Just like stocks. The 2018 "change" is a limitation on deducting home "office" expenses like you would have if you ran a business out of your house. It is hard to see how anybody could buy cards at auction, sell them soon thereafter, and come out ahead. If you are doing that, you are running a business and should file a separate tax return in the name of your business.

Sent from my moto g(6) using Tapatalk
Reply With Quote