ToddL99
Expert Alumni

Get your taxes done using TurboTax

As @MinhT stated, report the profitable sale of collectibles as the sale of an investment. If you had owned them for 1 year or more, the profit (gain) will be taxed at a lower rate than your 'ordinary' income.

 

To report the items sold at a profit, follow these steps: 
• In TurboTax, open your tax return 
• Click on Federal in the left-hand column, then on Wages & Income on top of the screen 
• Scroll down to All Income, locate the section Investment Income and click on Show more 
• Click Start next to Interest on Stock, Mutual Funds, Bonds, Other 
        . Answer Yes on the next screen, then on the following screen choose Personal Items (see screenshot added to the main answer). 
        . Follow the interview to enter your information.