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Antique/Collectible

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Antique/Collectible

Answer

A collectibles gain or (loss) is any long-term gain or deductible long-term loss from the sale or exchange of a collectible that is a capital asset.

Collectibles include a work of art, rug, antique, metal (such as gold, silver, and platinum bullion), gem, stamp, coin, or alcoholic beverage held more than 1 year.

Collectibles gain includes gain (not loss) from the sale of an interest in a partnership, S corporation, or trust attributable to unrealized appreciation of collectibles.


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Views: 490 Created on: Jun 15, 2013
Date updated: Aug 13, 2015

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