The Quest for an Authentic 1909-11 T206 #499 Honus Wagner

[iggyman]

I salute you in your quest and wish you "bon voyagee" on your journey. One tiny question, if I may. Are there any tax consequences towards the end of your journey??? Especially if you get some pub. (*and I'm not talking about beer...).

Lovely Day...

[teetwoohsix]

I'm just curious-will you also let us know what you paid for the item?I can see why you wouldn't want to say "before" the item was flipped,but how about "after"?Then we could really understand the progression.Just wondering..........

[baseballart]

Originally Posted by iggyman

I... One tiny question, if I may. Are there any tax consequences towards the end of your journey??? Especially if you get some pub. (*and I'm not talking about beer...).

Lovely Day...

I'm just a Canadian tax lawyer, so I know (next to) nothing about US tax. I suspect baseball cards don't qualify as "replacement property" for a US tax deferral.

On the other hand, I grew up in Saskatchewan, so I do know something about getting houses for red paper clips. If I recall correctly, the house in question had a fair market value of about $30,000. A few years ago (before the potash boom), some houses in rural Saskatchewan would be sold for $1, as they weren't worth more than the cost of incurring the running expenses (property tax, heating, insurance, etc). It's actually quite sad how many small towns and farm houses in Saskatchewan have disappeared into the prairies over the last 40 years, as farms get larger. My grandparent's farmhouse is a typical example, with a picture of the old barn, taken about 20 years ago:





Good luck in your quest.

Max

[Kawika]

Good night, Max Boy.

[sportscardtheory]

I know it's been awhile, but once I get some real money it will go much faster.

Item #2 Paid - $10.99

Item #2a SOLD - $7.89 Net (2a/2b/2c/2d)

Item #2b SOLD - $7.89 Net (2a/2b/2c/2d)

Item #2c SOLD - $7.89 Net (2a/2b/2c/2d)

Item #2d SOLD - $7.89 Net (2a/2b/2c/2d)

[mintacular]

We will all be DEAD by the time this comes to fruition...And I'm only 31

[botn]

As will our great grandchildren.