Skip to main content
March 27, 2023
Question

Purchased 100s of Funko Pop figures for personal use. Did not keep receipts. I was offered $20K for the entire collection. FMV is near $41K. Will I owe taxes on sale?

  • March 27, 2023
  • 1 reply
  • 0 views
Sale will be online via PayPal.  Purchases were over 10 year period.

1 reply

KrisD15
March 27, 2023

Maybe.

You will need to claim income for the amount you receive for selling them that is over what you paid for them. 

You will need to make an educated estimate of what you paid.

 

The profit will be Long-Term Capital Gain. 

 

The tax will depend on other things, such as your filing status and other income. 

Long-Term Capital Gain Rates are listed below;

 

https://www.cnbc.com/2023/02/15/heres-how-much-you-can-make-in-2023-and-pay-0percent-capital-gains-taxes.html

 

 

 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"