"Pats Fan" wrote
>> 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."
> I hope you were not expecting a definitive answer from
> the 1-800 number.
>> 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?
> How many books are you selling? How large of a gain
> are you expecting? What is it about these books that
> might make them collectibles?
I think all the books in the library at Texas A&M are collectibles since they are clearly not there to be read. Moderator: ROTFLMAO
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