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  #1  
Old 02-14-2021, 05:10 PM
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Rhotchkiss Rhotchkiss is offline
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Quote:
Originally Posted by lug-nut View Post
How would the IRS know what cards I have in my wall safe or safe deposit box and wouldn't a living trust cover this issue?
I bet $10 you are going to tell us! Man, you are one dumb SOB

Ryan Hotchkiss
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  #2  
Old 02-14-2021, 07:05 PM
lug-nut lug-nut is offline
Mark
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Originally Posted by Rhotchkiss View Post
I bet $10 you are going to tell us! Man, you are one dumb SOB

Ryan Hotchkiss
really?
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Old 02-14-2021, 11:41 PM
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conor912 conor912 is offline
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My friend has a card he got in a pack as a kid, and it now would sell for $20k, so his cost basis is zero. If he sends it to auction, what is the tax implication there? Does the AH send him a 1099? Does he just self-report? He’s willing to pay the taxes on it, he just doesn’t know how it goes down.
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Last edited by conor912; 02-14-2021 at 11:43 PM.
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  #4  
Old 02-15-2021, 03:59 AM
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swarmee swarmee is offline
J0hn Raff3rty
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Quote:
Originally Posted by conor912 View Post
My friend has a card he got in a pack as a kid, and it now would sell for $20k, so his cost basis is zero. If he sends it to auction, what is the tax implication there? Does the AH send him a 1099? Does he just self-report? He’s willing to pay the taxes on it, he just doesn’t know how it goes down.
If 1099, then 1099. If no 1099, then self-report.
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