three selling issues: proof of original prices, income tax and sales of expensive items on ebay
Summary: pokemoncookie had questions about selling expensive sports cards and reporting capital gains to the CRA, expressing concerns about lacking receipts for cash purchases at card shows. john_koenig99 suggested consulting an accountant and noted that fair market value might be considered in the absence of receipts. Other participants debated potential tax implications and the risks of selling high-value items, with some recommending using reputable auction houses instead of platforms like eBay. The discussion also highlighted the risks associated with trading collectibles such as Pokemon cards, involving issues like anonymity and tax avoidance.
Hi,
I have three questions about selling that really bother me. I am a casual seller because I have a part-time job. A few months ago, I sold a sports card for $4100. After all the deductions, ebay paid me about $3400. Later this year, I will sell a box of trading cards for $16000. I believe that after all the required fees deducted, I will receive about $12500. I hope a wealthy collector buys it because it is a very expensive box.
I bought both the single card and the box from card shows. I paid the vendors cash for them: $1200 for the sports card and $2300 for the box. In general, I don't think buyers get receipts from sellers at card conventions. So I didn't get any receipts.
My capital gain on the card was $3400 - $1200 = $2200.
My capital gain on the box will be $12500 - $2300 = $10200.
Therefore, the total capital gain will be $12400.
I am expecting a total of $9000 in gross employment income. Here are my questions.
When I report my capital gain to CRA, I will tell them the prices I paid for the card and the box. They will very likely ask me for the receipts to prove that. How can I provide proof when no receipts were issued?
I don't have any property or investments. I rent a place and pay my rent monthly.
With the total capital gain of $12400 and $9000 in gross employment income, my total 2026 income will be $13300. Approximately, how much will I have to pay in income tax next year (2027)?
I believe that this box will increase my income tax significantly. Should I sell it?
Please share your answers with me. Thanks.
byto253
·3 weeks agoDid you charge the purchases to a credit card? Not a receipt but it is proof of the amount paid.
pokemoncookie
OP3 weeks agoI paid cash for these cards.
john_koenig99
·Aug 8, 2026 at 2:31 PMThese questions are better asked to an accountant.
Having said that, CRA auditors ask for receipts or bills of sale when available, but for items like antiques and collectibles, they usually check what similar items sell for ("fair market value?").
femmefan1946
·Aug 9, 2026 at 7:20 PMIf the OP paid $2300 and sold for $16000 (and sincere best wishes that it does that nicely), but doesn't have a $2300 receipt....
Are you saying that CRA are likely to calculate their tax burden on the fair market value of $16000 and decide there is no capital gain?
john_koenig99
·Aug 9, 2026 at 7:37 PMWhat I'm saying is that the burden of proof is thinn (hence the question mark)
.How else do you think they would come to a conclusion?
femmefan1946
·Aug 9, 2026 at 8:26 PMCoin toss? Dart board?
Comparison with rest of tax form for anomalies?
ricarmic
·3 weeks agoI'd guess that if OP is saying 2300 against 16000 sale, its pretty unlikely that they're being dishonest, a dishonest situation would have a much smaller margin on average I would say.
Man even though I've been selling for 27 years here, I would be seriously sweating about selling something for $16,000 when that's about 500 times my average sale size, and I'd suspect this stuff has a higher than average risk of fraudulent behaviour. I suppose if it is lost, OP's only out $2300. If I had something this size in my (stamp) world, I'd likely send it through a reputable auction house, the "fees cost" would likely not be that much different and the auction house bears the risk of loss in the mail kind of situation if it is shipped. But that's just me.
femmefan1946
·3 weeks agoI agree, although I am not sure what reputable house deals in (unopened) boxes of collectible cards.
Perhaps Butterworths?
easoss
·3 weeks agoThis is the crazy out of control world of Pokemon. Social media hyped with influencers galore. Huge money boxes and cards. And because of this it attracts some unsavoury elements like money laundering, crypto scams etc. All of this over a game designed for 10 year olds.
femmefan1946
·3 weeks agoAll the more reason to avoid eBay or Marketplace or any online venue really.
Pay the 10-20% commission to the B&M auction house. Let them vet the bidders, and ensure delivery to their deep pocket customers.