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hello

ndleondleo Posts: 4,158 ✭✭✭✭✭
in Trading Cards & Memorabilia Forum
Are you actually in the "card biz" ??...or just a hobbyist?

The magic number for 1099s is $600 but .."only when payments are made in the course of your trade or business. Personal payments are not reportable...."

I wouldn't even think about filling out a form (form 8824) for the IRS when making small trades of cards.
Mike

Comments

  • lostdart58lostdart58 Posts: 2,938 ✭✭✭
    Further form 8824 deals with trading of capital assets and investment property. Cards are inventory which are not really either capital assets or investment property.....unless you are talking about a VERY expensive card.
    Collector of:Baseball
    1955 Bowman Raw complete with 90% Ex-NR or better

    Now seeking 1949 Eureka Sportstamps...NM condition
    Working on '78 Autographed set now 99.9% complete -
    Working on '89 Topps autoed set now complete


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