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nearmint

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Posts posted by nearmint

  1. 3 hours ago, djzombi said:

    Would you have to PROVE what you paid for it?  Otherwise everybody that sold that $2,000 book would say they originally bought it for $1800, and only pay capital gains tax on $200.  If I started selling my collection, I have no records of what I originally paid for anything.  

    If you were audited, I assume you’d need to come up with some type of proof, yes.

  2. On 5/6/2021 at 5:49 AM, 1950's war comics said:

    prices are crazy these days but there is a caveat ...

    say you sold a book on Ebay last year worth 1000 dollars and now it has doubled in price, but this year everyone is getting a IRS 1099 form so that $2000 you would have made this year minus the 28% capitol gains is now down to $1440 minus the headache of another tax form(s)

     

    You don't pay capital gains on the sale price, you pay it on the profit.  So, unless you got that $2000 book for free, you wouldn't pay $560 in capital gains on it.

  3. So I posted a WTB thread this morning looking for Batman 7, 14, and 15 and received the following PM:

    Matthew  in  Missouri has a Golden Age Batman #7, 14, or 15 in CGC 8.0ish that he wants to part out for a cheaper price but because i'm not in the state right now, i couldn't purchase it from him maybe you should contact it and see if he still have it for sale.Here's his email mj6252708@gmail.com and 3253122191

    Note that he didn't specify a particular issue, but copied and pasted part of my thread title.  I emailed Matthew, and he, too, copied and pasted the exact issues and condition from my thread title in his response.  I Googled his email address, and found multiple posts on various boards warning people off of this scammer. 

    Beware!