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Paypal opinions???

tvtv Posts: 40
in Trading Cards & Memorabilia Forum
So in this past year I started to sell off my collection, not a dealer, personal collection of the past 20 years. Ive done about 25,000 through PP. Any Ideas of tax implications? Anybody been in this boat? I have not contacted PP yet to see if they send some kind of form to IRS, does anyone know this? If I have to claim, I know the basics, such as expenses, but Im sure as many of you, I have no receipts for a cost base of cards that I have been buying for 20 plus years. If PP does not send any forms to IRS do I even need to claim since its a personal collection? Thanks, Troy.

Comments

  • AlbertdiditAlbertdidit Posts: 560 ✭✭✭
    Not sure of all the details but i guess if you would have sold $19,999 in the past year there would be no issues at all.
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