The tax authorities provide information on the cost of selling trading cards and whether it needs to be declared.
In a society of mobile phones and social media, there are still things that connect us to our past. This is the case with the trading cards that arrive each season with the start of LaLiga, but also with events like the World Cup . Panini is the company responsible for releasing these collections.
However, some people search for the hidden treasures inside each pack. These are the trading cards that some people are missing and others that have increased in value over the years. So much so that many people make a profit by selling them.
The sale of trading cards is declared
Although many people may not know it, the sale of trading cards, even through platforms like Vinted or Wallapop, must be declared . However, this isn’t always the case; it only applies when they are sold for more than they cost . In that case, you have to pay a tax.
The Tax Agency has confirmed this to avoid any surprises when filing your tax return. When assets are sold for less than their original purchase price, you are not obligated to declare the difference. Therefore, if you have made a capital gain, you should be aware of this.
How to calculate capital gains
Sales of second-hand items can be made through online platforms or in person. In all cases, you must check the original purchase price and subtract that amount from the selling price. This is the capital gain, and if it is positive, it must be declared.
Capital gains are taxed through the savings income tax base of the Personal Income Tax (IRPF) at rates between 19% and 30%. Furthermore, registering as self-employed is mandatory. This type of business is considered equivalent to selling new goods.
Trading cards that increase in value over the years
Some trading cards are currently worth no more than the rest of the collection and are only good for trading. However, their value can change over time. These are the rare exceptions that everyone wants to own.
Luis Enrique at Real Madrid, James at Rayo Vallecano, or Luis Rubiales at Levante. These are just a few examples of those rare players who have become fashionable over time. That’s why it’s important to keep them, because you never know when their value might increase significantly.
