Quote:
Originally Posted by Baseball Rarities
I am not an accountant, but this is not how it has been explained to me. AFAIK, the sale of baseball cards falls under "collectibles" which are all taxed as short term capital gains (ordinary income) - 28% -, no matter the holding period.
Please verify all of this with your CPA.
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That is what I believe to be correct, further you cannot deduct any "expenses" incurred such as bank box, insurance, grading, etc.