How do you navigate the tax burden of selling expensive cards?

Welcome to Net54baseball.com. These forums are devoted to both Pre- and Post- war baseball cards and vintage memorabilia, as well as other sports. There is a separate section for Buying, Selling and Trading - the B/S/T area!! If you write anything concerning a person or company your full name needs to be in your post or obtainable from it. . Contact the moderator at leon@net54baseball.com should you have any questions or concerns. When you click on links to eBay on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network. Enjoy!

#19

05-04-2022, 04:38 PM

Touch'EmAll Touch'EmAll is offline

Member

Join Date: May 2009

Posts: 1,113

Business vs. Collector vs. Investor - big question. I go with "investor" and Schedule D on my tax return.

By the nature of my acquisitions I feel I can prove investor. I do not collect sets with all the commons, I only collect the most biggest of names and relatively highly graded at that. I do not have an IRA and money for retirement goes into higher end cards, and for the most part stays there. My intent is investment for profit - capital gains.

Keep track of cost basis, and sales price. Declare all sales transactions. Should be good to go.

« Previous Thread | Next Thread »

Thread Tools
Show Printable Version Email this Page
Display Modes
Switch to Linear Mode Switch to Hybrid Mode Threaded Mode

Posting Rules
You may not post new threads You may not post replies You may not post attachments You may not edit your posts BB code is On Smilies are On [IMG] code is On HTML code is On Forum Rules

Forum Jump

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
selling expensive item on ebay question	theshleps	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	20	02-04-2021 12:33 PM
Most expensive and least expensive card in your current set?	Archive	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	20	04-30-2007 07:38 PM
There are many rather expensive cards which I do not like.	Archive	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	17	12-24-2005 09:28 PM
Expensive raw cards	Archive	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	16	05-24-2005 06:10 PM
The best way to navigate here without popups	Archive	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	0	03-07-2003 11:26 AM

All times are GMT -6. The time now is 03:58 PM.