Reporting sales of large $$ items - Net54baseball.com Forums

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#14

11-15-2021, 05:42 PM

Frankish

Fr@.nk T.ot.@

Member

Join Date: Feb 2021

Posts: 362

Quote:

Originally Posted by Eric72

The hypothetical below is the way I understand things. If I'm wrong, someone please let me know....

I'm not a tax professional and may well be too conservative, but my understanding was that for a hobby (unless you are a reseller/dealer) you can't always add the costs of grading, postage, etc, to your cost basis, so I've always just gone with my gross cost. But if I'm wrong I hope someone will chime in!

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