Consigning and tax returns

[mc3521]

Last year I sold some collectables on consignment. The total sale was around $800 and I received $530 from the consignor. What amount do I report and how do I subtract the commission so I don’t pay tax on it? 

[Bsch4477]

Collectibles are considered investments and subject to capital gains. Your income is your net proceeds less your cost basis and tax depends on how long you have had the asset.