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<p>[QUOTE="Tarquin, post: 602502, member: 18902"]I inherited a coin collection. The estimated basis I got was 70k, but the collection sold for 90k. All of this happened in a matter of a few months.</p><p><br /></p><p>I calculate that i owe $5,600 in capital gains, which says these coins appreciated by 28.5% in the past 6 months. But I know that coin prices have been falling. Therefore, the estimated "basis" was wrong. </p><p><br /></p><p>Can I revise my paperwork to correct the error, or am I stuck paying capital gains tax?[/QUOTE]</p><p><br /></p>
[QUOTE="Tarquin, post: 602502, member: 18902"]I inherited a coin collection. The estimated basis I got was 70k, but the collection sold for 90k. All of this happened in a matter of a few months. I calculate that i owe $5,600 in capital gains, which says these coins appreciated by 28.5% in the past 6 months. But I know that coin prices have been falling. Therefore, the estimated "basis" was wrong. Can I revise my paperwork to correct the error, or am I stuck paying capital gains tax?[/QUOTE]
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