Hi,
In the past year, I have purchased a lot of boxes of baseball cards. I have then taken some of these and listed them online for sale. I will get a 1099 as a result. My question is around basis. Let's say I bought 100 boxes at $10/box. Each box contained 10 cards. That's 1000 cards, for $1000, suggesting that each card has a basis of $1. However, 99% of the cards are not worth anything tangible. The 1% that are, I sell online. Let's say I get $10K total for the 10 cards I sell. Since the other 990 cards are not worth the cost of selling, can I use the entire $1000 as the basis for the 10 cards?
