Thanks!
- Collectibles were most certainly held for personal use, no motivation to hold and sell at a profit
- Decided to sell in order to downsize
- Cost basis records are available to substantiate what I paid
So assuming I can offset the $5,000 income with the $7,000 cost, thus showing a "loss".......do I even need to report this on a tax return? If so, which form?
Thanks again to all
