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#13
03-05-2014, 09:00 AM
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Jason- what if when you purchased this imaginary collection with six Wagners, you decided to keep them all, at least for the time being? What would obligate you to declare them?
And if you did pay tax on them in the year you bought the collection, but chose to keep them for a while, what would happen when you sold them? Would you now owe no taxes at all? And how does one determine their value on the day you buy the collection? Isn't that kind of hard to assess with accuracy? 
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