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<p>[QUOTE="Leadfoot, post: 1606255, member: 2972"]Whether you are selling on e-bay or face-to-face, it is important to keep track of what you paid for a coin and what you sold that coin for (along with any fees paid to eBay or PP or elsewhere). That way you can calculate your profit (profit=price-cost-fees), which becomes income to report to the IRS. It is just that simple, but requires detailed bookkeeping -- no way around it. I use a simple spreadsheet, but then again I only have sold a handful of coins.[/QUOTE]</p><p><br /></p>
[QUOTE="Leadfoot, post: 1606255, member: 2972"]Whether you are selling on e-bay or face-to-face, it is important to keep track of what you paid for a coin and what you sold that coin for (along with any fees paid to eBay or PP or elsewhere). That way you can calculate your profit (profit=price-cost-fees), which becomes income to report to the IRS. It is just that simple, but requires detailed bookkeeping -- no way around it. I use a simple spreadsheet, but then again I only have sold a handful of coins.[/QUOTE]
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