Collectable Stamps

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  • Unregistered
    #1

    Collectable Stamps

    I bought some collectable US stamps 2 years ago . I 'm going to sell these stamps for a profit of about $2000. Someone told me that I will not have to pay capital gain on the sale of these stamps , because they are US postage stamps. Any truth to this ??
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    • Bird Legs
      Senior Member
      • Jun 2005
      • 990
      #2
      Collectables

      Report sale on Sched. D. Gain is taxed atthe rate of 28%.

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        • Unregistered
          #3
          Originally posted by Bird Legs
          Report sale on Sched. D. Gain is taxed atthe rate of 28%.
          Or your marginal tax rate, whichever is lower.

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