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<p>[QUOTE=&quot;medoraman, post: 1099476, member: 26302&quot;]The garage sale exemption really only applies to sales tax, not income tax. Even in a garage sale if you make a profit on an item it is taxable to the IRS. The &quot;exemption&quot; coin collectors have been operating under is that it simply is too hard to force everyone to declare their profit. For some reason people think if they turn a profit on a coin that they don&#039;t need to report that profit to the IRS, like every other profit. Hate to say it, but coin collectors, (and a lot of other collectors and people), simply are tax cheats. Period.[/QUOTE]</p><p><br /></p>

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