Excellent summary, thanks.
Originally Posted by HoustonCPA
**There are other methods you can use to allocate the costs of the box among the cards; this would be a good discussion to have with your tax professional to avoid paying unnecessary taxes (keyword being avoid – see last sentence of question 2).
I'm meet with my guy in Feb/March and will go with what he says, but I'm curious what some of these methods are.
Want: 2010 Allen & Ginter N43 relics of Pujols, Markakis, Howard. Want: Konerko high-end, looking for any Konerko 2012 Topps S1 1/1s
My buckets: https://sites.google.com/site/xl5inventory/ My shipping: DC and mailed next business day. My LCSs: Elite Sports Cards, Chicago; Tim's Baseball Card Shop, Chicago