Originally Posted by Coug46n2
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?
You are good until you sell them. Everything you own is an asset. The day they come into our homes and inventory everything to tax it is the day I move out of this country. Never say never though. They are always looking for more ways to increase revenue.