Re: Collectibles

> I'm trying to find the tax rate as the result of selling

>> books at a gain. Are there books that are sold at a gain >> that would NOT be collectibles? I asked the IRS, and the >> lady told me that she didn't know of any reg's that would >> define a collectible (in regard to books) any better than >> the terminology in the Schedule D instructions. "gems, >> stamps...and certain other tangible property." >> >> Is it the case that "if it smells like a collectible", i.e., >> some significant gain of value, then it IS a collectible? Or >> are there some Reg's which will better define this for me? > Just as it says, it's stamps and coins and whatever else the > Secretary has declared to be a collectible. > > So far as I know, baseballs are not collectibles.

"whatever else the Secretary has declared to be a collectible."

That's the "other tangible property" I was referring to; how do I get access to the Secretary's list?

> > > > > > > > >
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Pats Fan
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