Taxes ? on Auction House Consignments - Net54baseball.com Forums

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#13

11-23-2020, 08:02 PM

Eric72

Eric Perry

Member

Join Date: Oct 2012

Location: Philadelphia Suburbs

Posts: 3,809

Quote:

Originally Posted by Rhotchkiss

You pay taxes on $50. That’s what your net gain is, or gain recognized. If you are audited, your spreadsheet plus the eBay receipt is fine proof of basis and net sale proceeds; in fact, the spreadsheet can be great proof if it is meticulously -and contemporaneously maintained.

Thanks, Ryan. I appreciate you weighing in on this.

__________________
Eric Perry

Currently collecting:
T206 (135/524)
1956 Topps Baseball (195/342)

"You can observe a lot by just watching."
- Yogi Berra

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