The income is reportable minus any deductible expense.
Information is here:
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I had a painting (19th century) or an antique Chinese vase I sold through Sotheby's auction house for "lets say" $20,000. Is there a special fee I have to pay for antiques or its the same as normal income?
My husband was just notified, by our bookkeeper, that the rate of taxes is 38% for antiques above net profit. That seems very excessive. Last year we paid 15%.
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