What grade would SGC give this card- UPDATE! THE GRADE IS IN

[BobC]

YyYy

Originally Posted by Eric72

It does seem rather absurd, I'll grant you that. However, the IRS will view profits from the sale as taxable.

Just to set the record straight regarding the sale of any cards, as far as the IRS is concerned, technically if you sell any card you have just incurred a taxable event. Especially if the proceeds from the sale exceed the cost or basis you have in the card being sold. And it really doesn't matter if you are a hobbyist, investor, or dealer, it is still technically a taxable sale and the only difference is in how that sale is reported and taxed between those three potential types of owners.

Also for the record, if you merely trade one card for another, and even if no money changes hands, that is also technically a taxable sale to the IRS. In that instance the current fair market value of the card you receive is considered the sales price you got for the card you are trading, and you compare that to the cost/basis of the card you just traded to determine if you have a taxable gain or loss. And the same goes for the person you traded with. So if you thought by only doing trades that you were not potentially breaking any tax laws when not reporting that activity on your tax returns, please note that you are technically wrong.

Whether you report any of these sales/trades as taxable sales on your income tax return if there is no one else actually reporting them to the IRS (like with the 1099-K forms received by some sellers on Ebay) is totally a decision of each seller. Just know those sales/trades are all considered taxable events by the IRS and are technically to be included on every seller's tax returns. There is no de minimus sales amount under which you technically don't have to report such sales/trades.

And also keep in mind that the government has already made a change to the reporting threshold where sites like Etsy and Ebay are required to send the seller a 1099-K form reporting their total gross sales for the year, which also gets sent to the IRS. In case you have not heard already, effective as of 1/1/2022, the sum of all taxable sales totaling $600 or more for any calendar year on sites like Ebay and Etsy are to be reported to the seller, and the IRS, on a 1099-K form going forward. Used to be, and still currently through the end of 2021, you had to have total sales of at least $20,000 AND at least 200 separate sales transactions before those sites were required to report someone's total sales to the IRS.

[25801wv]

I once sent in a psa 1.5 mk Ruth to sgc and it came back as SGC 2. It was not as nice as yours. Im. Ot sure they will fo higher than a 2.5 with a mark.

[Bridwell]

I've seen SGC give a 4 on a similar nice card with a small stamp on the back. That was a long time ago, though. I think it is likely you will get a 2 or 2.5 from SGC. It's a great card with a very small mark.

[chadeast]

UPDATE: June 11, 2021

Thanks again to all for your opinions and advice. I know some of you wouldn't have done so, but I did send the card to SGC for Crossover. SGC has made their decision. Instead of revealing it right now, I’m giving everyone a 2nd chance (or 1st chance as the case may be) to see if they can get inside SGC’s head and guess the grade. I’ve also posted updated higher resolution (much better) scans, see below. It is in an SGC holder, and that's all of the information that you get for now. Multiple choice, please post the letter that correlates to your guess: A, B, C, D, or E. One guess per member, entries accepted until saturday 6/12 @ 10 PM EST. All will be revealed then. And to make it a little more interesting, there will be a randomly determined winner from among the posts with the correct guess who’ll be sent a modest prize! I do mean modest

The 1933 Goudey Ruth #144 PSA 3(MK) shown below was returned from SGC in a holder labeled…

A) SGC 1.5
B) SGC 2
C) SGC 2.5
D) SGC 3
E) SGC 3.5

[ullmandds]

b. 2

[Pat R]

E

[Leon]

A. 1.5
.

[perezfan]

C