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#3
11-14-2021, 06:55 PM
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Taxes
I have always understood it this way.
Paid 15k for a card. Sold the card for 20k. Income tax is paid on the 5k profit. Paid 1k for a card. Sold the card for $20k. Income tax is paid on the 19k profit. Different rules may apply in different states. Where I live the income tax is about 25% of the profit I think. 
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