Collection sale question?

cosmicdebris

Say you sell a collection for exactly what you paid for it. The collection is in excess of $10,000 what kind of legal, banking, tax, etc. stuff do I need to be aware of?

ABC123

If you have documentation for the 10K you paid for the collection, it would be a Wash Sale ! Otherwise, long or short Term Capital Gains on any Profit ! Consult your Tax Advisor for any Loss !

cosmicdebris

Cool I have records of every sale which means I am good to go.