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#17
03-12-2022, 07:50 AM
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You can be both a collector and in the business of buying and selling cards.
New Shimmer. It's a dessert topping and a floor wax!  Sorry, where was I before the commercial? Ahh, yes. You can be more than one thing, like a homeowner and a commercial real estate owner. It all comes down to record keeping and conducting your business in a businesslike manner. You have the resale permit and track your sales, you are 90% of the way to legitimacy. File a Schedule C every year to report your profits and losses in the business and show a profit 3 of 5 years and you are golden. No way the IRS calls your reported activity a hobby with all that evidence. The folks I fear for are the tax scofflaws. Give Caesar nothing and you get caught you are going somewhere there are no cards. 
__________________
Read my blog; it will make all your dreams come true. https://adamstevenwarshaw.substack.com/ Or not... Last edited by Exhibitman; 03-12-2022 at 07:53 AM. 
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