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KLARNOLD
Well-known member
I was reading the following article, http://money.msn.com/investing/post--tax-man-comes-for-couples-gold-coin-find, and thought that this would apply to baseball cards as well, "If you find and keep property that does not belong to you that has been lost or abandoned (treasure-trove), it is taxable to you at its fair market value in the first year it is in your undisputed possession."
What percentage of "sportscards finds" do you think are not reported to the IRS? Would any of this apply to the recent "Black Swamp Find" for the seller or buyer?
What percentage of "sportscards finds" do you think are not reported to the IRS? Would any of this apply to the recent "Black Swamp Find" for the seller or buyer?