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Inheriting father's stamp business
Hello!
I currently work with my father who is a stamp dealer - when he passes, the plan is for him to leave his inventory to me and for me to carry on. There are literally hundreds of stock books with millions of individual stamps all bought at different times over the last 50 years. How do I account for their value going forward and how do I handle the selling, taxes etc. on my own tax returns?
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March 30, 2022
8:20 AM