[QUOTE=MikeGarcia;2104947]
Quote:
Originally Posted by Eric72
....I imagine 80 t0 90 % of the members on here have sold a particular card or two in order to purchase that same card but in an upgraded condition......almost always it's money out of our pocket to accomplish this .....in what universe is this "viewed as a taxable event" ?????.....because an awful lot of us are soon going to be mowing the grass alongside the highway leading into Leavenworth....
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Quite possibly. If you sell a card, my understanding is that the difference between your cost and the sales price is taxable. It doesn't matter if you use that money to purchase another card. If you have a legitimate business dealing in cards, then you can aggregate and balance gains with losses. But, as far as I know, that doesn't apply to hobbies....