Am I correct in that if I have 10 of these sales of any type of collectible item, I itemize each one on 8949? True.
Is it correct that a sale resulting in a loss can only be listed if it's a short term sale, not if it's a long term sale? False. Collectibles are not considered personal use items even if you used them personally for a time ... they are investment items which can be sold at a loss.
Does that mean that gains and losses can be netted out for short term sales but only for short term? False.
