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#8
11-13-2013, 04:48 PM
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Hi Bill,
Thanks for responding to my questions and for confirming the Schedule D-Capital Gains approach. In the past, I have used Schedule D when I have sold cards from my collection, and I have used Schedule C when I sold cards that were part of a large lot that I bought to obtain certain cards for my collection. Now, I have learned that it is appropriate to use the "Other Income" Line 21 on Form 1040 instead, which is not only less hassle but also eliminates paying the FICA & Medicare Tax on Schedule C income. Many thanks for sharing your income tax expertise with all of us. Val 
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