Help with tax information for art sold at suction
Hello, I am a teacher by trade, but on the side this year I have been consigning and selling several art pieces that I have purchased with Sotheby’s auction house, as investments. I have had to fill out a W-9 for the sales, but I wanted to reach out to see what to expect with these capital gains taxes. Also, I wanted to see if the purchase cost of the investment and other related costs of shipping, travel, etc are deductible from these investment pieces. Thank you for your help!
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