Even thou many are not selling and just trading. new possible future tax laws or new features could open a new can of tax worms. I'm not sure what TCDB is considered maybe a information company? Or forum? Things to consider so our fun collecting paradise doesn't turn into a nightmare.
From cardlines
"Sports Card Sales And New 1099-K Laws: Which Platforms Issue A 1099-K?
The law applies to all third-party settlement organizations or TPSOs. So your next question, predictably, is what is a TPSO. A TPSO is an ongoing financial arrangement with the following characteristics:
- An organization that hosts a large number of accounts in a centralized organization. The number is usually 50 accounts or over. The accounts are unrelated to the central organization aside from using their auspices for transactions.
- An agreement or arrangement governs the central organizations and the hosted accounts, usually in the form of a contract.
- An organization that provides standards for the conduct of transactions and the settlement of disputes.
- Guarantees the provider’s payment in return for goods sold to customers.
Any third-party platform which sells cards fits this description. That would include:
- eBay
- Comc
- Facebook marketplace
- Mercari
- PayPal
- Otia
- StockX
- Venmo"
