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Level 4
posted Jun 5, 2019 12:01:35 PM

Can I enter total amount collectables sold?

If I sell a number of collectables such as, coins and silver bullion can I enter (8949/Schedule D) the total amount of the sale and cost or do I have list each item individually?


Thanks

0 3 1904
1 Best answer
Level 15
Jun 5, 2019 12:01:36 PM

You can combine them by like kind (collectibles) and type of sale ( long term vs short term ) and keep a breakdown in case the IRS wants to see it later. 

3 Replies
Level 15
Jun 5, 2019 12:01:36 PM

You can combine them by like kind (collectibles) and type of sale ( long term vs short term ) and keep a breakdown in case the IRS wants to see it later. 

Level 4
Jun 5, 2019 12:01:37 PM

Thanks

Returning Member
May 13, 2021 10:05:17 PM

Hello,

I've followed instructions to report my 1099K under investment income & selected "something other than a date" to get VARIOUS as acquired date, now I'm stuck at Date sold or disposed because they were sold on various dates.  There is no other option except to enter a single date.  I have 300+ sales & they were held more than a year.  What should I do?  Please help!  Thank you.