Quote:
Originally Posted by Snapolit1
No. What I was trying to say is that a sports collector cannot sell $3000 worth of cards in a year with a $2500 basis and say I didn't really earn income of $500 because I separately had $500 of expenses. Expenses don't figure into the equation unless it's a business you are running. PWCC is running a business. I make occasional sales but can't seriously argue its a business.
That's my understanding of how it works, but I am not a tax professional.
|
I sell about $30,000 worth of cards on Ebay that I pay $33,000 for. Am I running a business? Or is it a hobby? Hell, you can sell just 2 Hank Aaron rookies and exceed their monetary threshold.