Selling a card you inherited - Income tax

Welcome to Net54baseball.com. These forums are devoted to both Pre- and Post- war baseball cards and vintage memorabilia, as well as other sports. There is a separate section for Buying, Selling and Trading - the B/S/T area!! If you write anything concerning a person or company your full name needs to be in your post or obtainable from it. . Contact the moderator at leon@net54baseball.com should you have any questions or concerns. When you click on links to eBay on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network. Enjoy!

#20

08-14-2022, 09:20 AM

swarmee

J0hn Raff3rty

Member

Join Date: Jul 2014

Location: Niceville FL

Posts: 7,290

Quote:

Originally Posted by Fred

So, this is kind of like stock. The price of the stock is set to the value when the person dies and the person that inherits it has to claim gains based on that amount. Is that right?

This is correct. For any additional details, there are six walls of text above that clarify.

__________________
--
PWCC: The Fish Stinks From the Head
PSA: Regularly Get Cheated
BGS: Can't detect trimming on modern
SGC: Closed auto authentication business
JSA: Approved same T206 Autos before SGC
Oh, what a difference a year makes.

« Previous Thread | Next Thread »

Posting Rules
You may not post new threads You may not post replies You may not post attachments You may not edit your posts BB code is On Smilies are On [IMG] code is On HTML code is On Forum Rules

Forum Jump

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Selling an Inherited Collection	Northwoods	Modern Baseball Cards Forum (1980-Present)	12	12-30-2020 12:56 PM
Help with inherited card collection.	Devojrx7	Postwar Baseball Cards Forum (Pre-1980)	21	12-05-2020 06:05 PM
PayPal & Income Tax Question	GehrigFan	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	14	09-11-2014 07:43 PM
For the Casual Seller on eBay: Do you report your income?	cbcbcb	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	8	03-22-2010 11:53 AM
Income set aside for collecting	Archive	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	10	10-22-2006 08:20 AM

All times are GMT -6. The time now is 01:53 PM.