Cost basis - Warning tax related topic

[edhans]

Originally Posted by SAllen2556

In fact, if you want to have fun, ask a stodgy old card dealer for a receipt next time you buy at a card show. Every dealer at every card show is a tax cheat, right? They're not issuing receipts, and most aren't even keeping track of sales.
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Scott,
I am one of those stodgy old dealers and I will happily write you out a receipt when you purchase cards from me. Contrary to your assumption, I track my sales and purchases, report them on schedule C and pay self employment tax on my earnings. Many (probably most dealers) do the same. Your blanket accusation is, quite frankly, offensive.

[Exhibitman]

Originally Posted by edhans

Scott,
I am one of those stodgy old dealers and I will happily write you out a receipt when you purchase cards from me. Contrary to your assumption, I track my sales and purchases, report them on schedule C and pay self employment tax on my earnings. Many (probably most dealers) do the same. Your blanket accusation is, quite frankly, offensive.

Old, definitely.

Be nice to catch up with you in Chicago this summer, Ed.

[edhans]

You too, Adam.