Finally, the applicable tax rate for net collectible gains is different than for other capital gains and losses. Second, the netting process for collectible gains and losses is more complicated than it is for typical capital gains and losses. First, the tax definition of collectibles is complex and can easily be misinterpreted. The federal income taxation of gains (and losses) from the disposition of investments in collectible assets (collectibles) is relatively unfamiliar to many practitioners for several reasons.
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