Report a collectible item and income from the sales of collectible items in Schedule A. For You, Your Spouse, and Your Dependent ChildrenSchedule AReport a collectible item if (a) the item is held for investment purposes and had a value that was more than $1,000 at the end of the reporting period, or (b) the item produced more than $200 in income during the reporting period. Block A: Describe the nature of the collectible item, such as “rare book” or “classic car.” You may aggregate multiple items of a similar nature as a single entry. Block B: Report the value of the collectible item by marking the appropriate column. Block C: Report the income produced by the collectible item by marking the appropriate “Amount” column. If the amount of income is more than $200, you also need to report the type of income by marking the applicable “Type” column. Click Here for Frequently Asked Questions
This guide is not intended to provide investment advice, and you should not rely on statements in this guide when making investment decisions.