IRS Form 1099 from Mastro Auctions - Net54baseball.com Forums

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02-24-2008, 07:47 AM

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IRS Form 1099 from Mastro Auctions

Posted By: Frank Wakefield

Hello Mike,

You need to look at that IRS website and ask an accountant.

My recollection is that the entire sales is ordinary income. You don't just pay taxes on the gain. You didn't sell stocks... and the IRS rules on old baseball cards is more brutal than it is on selling stocks. That isn't how collectors want it to be, but I think that may well be the way it really is.

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