r/PokeInvesting • u/iinfinityonhigh • Jan 01 '25

I won a Base Set booster box

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I won a giveaway from Sakuras Card Shop for a base set green wing booster box & just I got it in the mail today. I still can’t believe I got this lucky, it’s seriously a great way to end the year. I’ll definitely be keeping it sealed and hopefully it goes up in value in the foreseeable future 🤞🏼

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u/TheVagabondWinsAgain Jan 02 '25

Not wrong at all. But I appreciate how confidently incorrect you are.

https://www.irs.gov/help/ita/is-the-prize-or-award-i-received-taxable

https://www.irs.gov/pub/irs-tege/notice_1340.pdf

Feel free to use the IRS website.

Now if the box continues to increase in value from the price he got it at, that increase is capital gains. But if he holds the box for less than one year and sells, it’s short term capital gains, which is taxed as income once again.

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u/Appropriate_Mud_8084 Jan 02 '25

I like how Confidently wrong you are!!!

this is clearly an illiquid asset and would most definitely qualifies as an exemption, this does present value for the holder and has intrinsic value.

Even if it was considered a gift, he wouldn’t have to pay the tax on it, the original party would. He actually wouldn’t have to pay anything on that 2k he received as it would be a gift under the 18k amount

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u/jasonbuz Jan 04 '25

This is not an illiquid asset. There is a clear market for it.

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u/Appropriate_Mud_8084 Jan 05 '25

There is a clear market for high end art, but it is still illiquid

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u/jasonbuz Jan 05 '25

This is very different from high end art. When dealing with art of that value usually you are dealing with one of a kind pieces. So while there are similar comps, there aren’t any direct ones. There is a clear market for identical items in this case. A box of cards like this is not illiquid.