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I bought 10 boxes of baseball cards for $35 each. The cost basis for each card is $.34 and there are 990 cards total. If I sell 1 card for $350, do I have tax of $0?
What about if I sell one card for $350 and sell the others for $1 total, or just throw them away?
Can I offset my $350 sale, or any other sales, by getting rid of other cards that had a cost basis higher than I got rid of them for?
Can I offset my $350 sale, or any other sales, by getting rid of other cards that had a cost basis higher than I got rid of them for?
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‎November 4, 2023
9:15 AM