Help!! Audited on my 2021 Taxes over baseball cards!!

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#11

03-09-2024, 06:01 PM

ValKehl

Val Kehl

Member

Join Date: May 2009

Location: Manassas, VA (DC suburb)

Posts: 4,058

Quote:

Originally Posted by raulus

Unless you�re a dealer, the federal tax rate on collectibles gains is 28%.

Not so, Nicolo. The basic federal tax rate on collectible gains is the LOWER of 28% or your incremental tax rate on ordinary income. My incremental tax rate is 22% - yours may be higher.

__________________
Seeking very scarce/rare cards for my Sam Rice master collection, e.g., E210 York Caramel Type 2 (upgrade), 1931 W502, W504 (upgrade), W572 sepia, W573, 1922 Haffner's Bread, 1922 Keating Candy, 1922 Witmor Candy Type 2 (vertical back), 1926 Sports Co. of Am. with ad & blank backs. Also 1917 Merchants Bakery & Weil Baking cards of WaJo. Also E222 A.W.H. Caramel cards of Revelle & Ryan.

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