If you consign a large collection do you pay tax on capital gains for the individual coin?
oldcameoproofsguy
Posts: 3,174 ✭
Do I pay tax on the individual coin that made money or do I consider the collection as one large investment and pay taxes according to how well the collection did? In other words my consignment overall lost money but I had some coins that actually did very well. Do I pay capital gains tax?
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ANA LM5200
Forunately, you can offset losses up to the amount of gains during your tax year. Hope that helps.