Posted By:
cmokingI don't have any answers, but I do have a CPA. I give him a sum total of all cards I sold in the year plus the cost basis for those cards. He uses those numbers and plugs them in. I do have specific details for each card with receipts (although it would be a major pain in the ass to get it all out in case of an audit...yikes). I was audited last year for other reasons. Even when they went through my filing, and started to ask questions about things other than their initial reasons for auditing, they did not inquire about the collectibles profit that I reported.