Blowout Cards Forums - View Single Post - A guide to reporting your taxes and Form 1099s

Coug46n2 · 01-03-2013, 11:43 AM

Great post.

I have always wondered if the IRS would ever look at the cards I have as "assets" and try to tax them as such? If I didn't word this appropriately please let me know. I understand all the cost, expenses, profit, net loss/gain aspects of this post. But what I am wondering is if the cards themselves, the ones I'm keeping for my own personal collection, would ever be considered assets and therefore taxable in any way?

01-03-2013, 11:43 AM	#11 (permalink)
Coug46n2 Member Join Date: Nov 2010 Location: Washington State Posts: 3,496 Coug46n2 Coug46n2	Great post. I have always wondered if the IRS would ever look at the cards I have as "assets" and try to tax them as such? If I didn't word this appropriately please let me know. I understand all the cost, expenses, profit, net loss/gain aspects of this post. But what I am wondering is if the cards themselves, the ones I'm keeping for my own personal collection, would ever be considered assets and therefore taxable in any way? __________________ Current needs: Kirby Puckett Relics, Game Used, Patches, Inserts, & Parallels. Also looking for BGS 9.5 Topps RCs from 1980-current.