IRS collectibles definition predates trading cards, leaving big card sellers guessing
With a Pokémon card selling for $2.8 million and a Black Lotus for $2.2 million, the IRS definition of collectibles still predates trading cards, so sellers can't be sure which tax rate applies, according to MSN. Declaring gains at 28% is the cautious route.
Tax uncertainty is not tax exemption. Anyone moving a high-end slab is a seller in the IRS's eyes, and 28% is the figure cautious filers are landing on until the definition catches up. If you hold a five- or six-figure card, your records matter as much as the grade: sloppy paperwork turns a good sale into a bad April.
Our read, from the people who buy and sell these cards. Opinion, not financial advice.
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MSN A Pokémon card sold for $2.8 million and a Black Lotus for $2.2 million. The tax code was written before either one existed. Published Oct 14, 2026Figures are as reported by the source; we haven't verified the sale ourselves.