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#1
12-22-2007, 10:25 AM
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consignment question
Posted By: leon
I have a spreadsheet of all of the cards I buy during the year, where I bought them, and for how much. I then sell them and do the exact same thing. If I consign them it's the same as me sellling them, with an additional fee...which I will take out of the sales price (if that's the case). At the end of the year I add everything up, keep a copy, and my CPA uses a Schedule C to report them on my taxes.....it's really not that difficult.. I have a corporation too but treat these sales as 1099 type personal income...If any of this doesn't make sense then I will defer to my CPA...he's pretty good at this stuff......best regahds.... 
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