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<p>[QUOTE=&quot;calcol, post: 25287110, member: 77639&quot;]Personal capital gains and losses are reported on line 7 of form 1040.&nbsp; However, usually a form D and perhaps a form 8949 may be needed too.&nbsp; The instructions for these forms are informative to a point.&nbsp; And collectibles are treated differently.&nbsp; Gains on collectibles can be taxed as high as 28%, which is higher than most other types of assets.&nbsp; And no, you don’t have to have a business to report capital gains/losses … you’re required to report them, business or no.</p><p><br /></p><p>My question is about basis … the total cost of the collectible by the time it’s sold.&nbsp; Obviously, the purchased price is part of basis.&nbsp; But is the cost of getting to the purchase point part of basis?&nbsp; My guess is the answer is in case history rather than being spelled out explicitly by IRS.&nbsp; It may rest on the primary motive for the trip.&nbsp; Was it only for enjoyment or only to buy coins or a combination?</p><p><br /></p><p>Basis can be adjusted with time.&nbsp; For example, with real estate, property improvements add to basis.&nbsp; With coins, certification cost is probably a legitimate adjustment to basis.&nbsp; But what about cost of shipping coins to a dealer or auction house?</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>

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