Starting an Ebay Business - Net54baseball.com Forums

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03-23-2021, 01:56 PM

Gusturd

Art Levenson

member

Join Date: Jan 2017

Location: Northeast

Posts: 57

Quote:

Originally Posted by Aquarian Sports Cards

Even as a hobbyist you can write off your original cost of acquisition so if you spent $60k and sold for $100k you would be taxed on $40k

Ok...That's great info. Thank you. But what if instead of a one time event, I pieced the collection out a little at a time and instead sold $20K a year (say with 8K profit) for the next 5 years. Could I still be considered a hobbyist?

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