We sit down with David Harstock, US Income Tax Professional and sports card collector, to discuss the income tax rules surrounding the buying and selling of your sports cards whether you've owned them for a day, a month, a year, a decade or even longer, common tax misconceptions, when are you required to report your sales, the tax implications of making trades, what a 1099 actually is, does the IRS even care, how is sports card income characterized, what records do you need to keep and what if you don't have documentation on historical purchases and sales you've made and more on taxation so join us live and bring your questions and comments as they will be in play.
Leighton Sheldon of Just Collect and Vintage Breaks joins for the "Vintage Spotlight" segment!
The information provided in this podcast is for general informational purposes only and does not constitute professional advice. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the content discussed. Any reliance you place on such information is therefore strictly at your own risk.
The content of this podcast is not intended to be a substitute for professional tax advice, legal advice, or any other professional service. Always seek the advice of your tax advisor, accountant, or other qualified professional with any questions you may have regarding your specific tax situation.
Tax laws and regulations are subject to change, and they can vary widely based on your specific circumstances and location. We encourage you to consult with a qualified tax professional or legal advisor before making any decisions based on the information presented in this podcast.
By listening to this podcast, you agree that we are not responsible for any errors or omissions, or for any results obtained from the use of this information. In no event will we be liable for any loss or damage, including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from reliance on the information provided in this podcast.
Thank you for listening and we hope you find the content informative and engaging.
Saturday June 15 @ 7:00pm PST / 8:00pm MST / 9:00pm CST / 10:00pm EST
#sportscards #thehobby #incometax
Please show some love to SCL sponsors and partners:
Visit sportcardexpo.com for info on all Expo events across Canada now in Toronto, Edmonton, Montreal and Quebec City.
If you've discovered a vintage collection and need help with valuation and selling, please reach out to Leighton Sheldon at Just Collect. Visit justcollect.com.
If you'd like to consign your cards to PWCC, please use referral code SCL when filling out your submission form.
If you'd like to consign your cards to MC Sports Cards to sell on eBay.com, please email them at info@mcsportscards.com.
If you like to enter group breaks, please check out SCL sponsor Filthbomb Breaks. Visit filthbombbreaks.com and follow them on Fanatics Live.
If you need help getting into a grail for your collection, Fund Your Cards can help you finance the purchase with your own cards. Visit fundyourcards.com and tell’em JLee sent you!
If you'd like to consign your cards to Canada's Slab Sharks to sell on eBay.ca, please reach out to me at jeremy@slabsharks.com and I will help you out.
Be sure to check out REA Auctions tri-annual Catalog Auction and select Sports Cards Live as how you heard about them.
If you collect cards from the 90's or cards of players who played in the 90's, check out 90sauctions.com for a niche auction house that provides personalized customer service.
If you value transparent, consistent and accurate grading, please check out TAG (taggrading.com).
Download the Center Stage app on iOS and Android for instant card identification and pricing. Visit centerstagehq.com.
If you like the coolest pop culture stuff...action figures, Apple collectibles, VHS and video games, check out LCG at lcgauctions.com. And select Sports Cards Live as how you heard about them.
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