Selling Old Toys on Ebay

[BrittB]

If I sold old toys (like GI Joes) that were gifted to me a long time ago (for birthdays and holidays) for a profit would I use the cost basis (retail price back in the 1980s) or would I use the fair market value of the item to determine my gains? 

[Mike9241]

lower of donor's basis or fair market value on date of gift.

[fanfare]

the fair market value now is whatever you can get for it.

If you adjust your cost for inflation you probably have a loss (but IRS doesn't let you do that).