For the past year and a half I’ve been buying skins in a video game called counter strike. I’ve been keeping track of the amount I’ve spent total on the game but not how much I spent on each individual item. The skins have gone up a good amount (put in $8800 now worth around $13000) and now I’m looking at selling some of the skins but not all. My question is how would taxes work if I only sell part of the skins and kept the rest? Do I still deduct $8800 as my cost basis even though I’m not selling all the skins? Also what % of money made should I set aside for taxes?
Posted by Wise-Scar-5175