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Your advise please - major headache!
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<p>[QUOTE="satootoko, post: 80246, member: 669"]With all due respect, that's like "investing" in wines without recording the vintages. The value of a high-grade MS coin can be a very large multiple (100x +) of the value of the same coin in XF, so without grades you haven't got a clue as to value.Or even G if they were taken from circulation.The legal answer to that question is "When the sale price exceeds the cost basis+costs of sale." A practical consideration is that you can just bet there are IRS agents cruising EBay and other auction sites watching for large dollar sales to investigate.The "no one else pays" defense won't hold up in a trial for tax evasion. </p><p><br /></p><p>Bottom line - talk to the professional who does your taxes, and if you don't have one, get one. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>
[QUOTE="satootoko, post: 80246, member: 669"]With all due respect, that's like "investing" in wines without recording the vintages. The value of a high-grade MS coin can be a very large multiple (100x +) of the value of the same coin in XF, so without grades you haven't got a clue as to value.Or even G if they were taken from circulation.The legal answer to that question is "When the sale price exceeds the cost basis+costs of sale." A practical consideration is that you can just bet there are IRS agents cruising EBay and other auction sites watching for large dollar sales to investigate.The "no one else pays" defense won't hold up in a trial for tax evasion. Bottom line - talk to the professional who does your taxes, and if you don't have one, get one. ;)[/QUOTE]
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Your advise please - major headache!
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