In a given year the total proceeds of my consignments have never exceeded $5000. Normally my purchases have offset my proceeds. Therefore I have never had to deal with the tax bite.
So, I'll restate my original question. What are the tax liabilities on a substantial consignment? (for example $138,000)
Collect small Oklahoma Oil Co.'s 1920's-1940's. Barnsdall, Cushing, Eason, Marland, etc.