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Posted By: Mike

My son has baseball cards and lego's etc that he has received over the years as birthday and Christmas gifts etc. Now he wants to sell all his collection of goods and start a card/lego etc business with this gift inventory. He didn't spend any money on the items . How do taxes pertain in this case ? Any help is appreciated. What is the cost of goods sold ? Any help in how to inventory the legos ( which will be sold as individual pieces) By weight ? ect. Thanks Mike