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Originally Posted by Stupe the Second Sacker
Thank you. I will definitely read that article. But if I fall into the "personal collector" category is the answer in my example $7000 or $4000?
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Based on the new law that is commonly known as TCJA, deductions from hobbies are no longer allowed. So you have all the income, and none of the losses or deductions.
I’m guessing that we’ll have a lot more closet investors around here…at least for tax purposes.