Quote:
Originally Posted by sb1
Unfortunately a "loss" cannot be used on "collectibles" for tax purposes....
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I lost 5k on a card approximatly 15 yrs ago. I reported the loss and got audited by the IRS. I showed my cost basis and sales price. It flew past the audit with no problem. I honestly missed a 1099 that year and had to pay around a $100 penalty plus the tax.
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Leon Luckey
Last edited by Leon; 05-04-2022 at 01:55 PM.
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