Quote:
Originally Posted by saintsfan67
Now they are going after kool-aid stands and garage sells...If you buy from a company taxes are paid. If you buy a box the taxes have been paid on the cards,they are yours to do with whatever you please. Keep the receipt from BO. It looks like the 2000 chaos all over again!!
|
Sales tax is not income tax. Those are 2 types of taxes. You still have to report any gain you have from the sale as income. If you sell the cards out of your $100 box for $500; you have $400 worth of net income to report, and you will be taxed on your gain.
__________________
My HOF PC:
http://www.blowoutcards.com/forums/football/187413-my-nfl-hof-collection-27-go-very-scan-heavy.html
Need Bidwill, Mara, Carr, Chamberlin, Pollard, Hewitt
|