Tax or CGT Selling on PWCC

[BMIBaldwin]

Hi all,

I've never sold cards before, and I'm thinking of selling my Lebron Topps Chrome PSA 10 RC and Mahomes Prizm PSA 10 RC on PWCC since the price has skyrocketed.

I collect for fun and got these cards years ago quite cheap. is there anything I'd have to worry about with regards to tax, declaring profits, international money transfer, etc. from the PWCC process?

Any information would help me a lot thanks.

 

[Delly]

I've been looking at CGT as well.
I can't comment on international sales via consignment.
As far as I understand, you don't have to pay CGT on something you purchased for $500 or less. Hopefully these fall under this.
If not, then your looking at CGT. If purchase was over 12 months ago you can get a 50% reduction on the cgt.
I'm interested in what other advice people have.

 

[drobfan8]

Man those are awesome cards.

Are you needing to sell? If not I'd be holding off as the Bron especially is only going up.

 

[BMIBaldwin]

Nah don't have to sell them, but I'm definitely looking at what the process is for when I do.

 

[drobfan8]

Nah don't have to sell them, but I'm definitely looking at what the process is for when I do.

Man you are gonna get PAID! Congrats.

I'm a dummie for not being smarter with my collecting.