A TIKTOKER has revealed he made $1,000 when he was 14 selling trading cards.
Reselling items has become a profitable activity for many people.
Jeremiah (@2. Jeremy) entered the resale business when he was 14 years old.
He began selling popular trading cards, such as sports and Pokémon, online.
He bought them at Walmart, flea markets, or even from his friends.
Then he would sell them online in bulk packages.
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“I would buy 100 cards for $5 and then sell them for $25 to $50,” Jeremy said.
He still had some cards that he never sold.
“It may be necessary to go back,” he wrote in the video rubric.
CARD COUNTING
January marked Pokémon’s 25th anniversary, making the brand old enough to be officially vintage.
Nat Turner, CEO of Collectors, a New York-based third-party authentication grading company, said the cards are “incredibly important cultural collectibles,” in an interview with Fox Business.
He explained that classification companies were particularly excited about the anniversary.
About 85% of all trading cards submitted for grading and authentication are Pokémon, he said.
Older cards, especially 1999 originals, can be worth $1 million or more.
In January, Turner’s company rated a Pikachu illustrator card, one of the rarest Pokémon cards of all time, an eight out of 10.
It was in perfect condition and sold within a week for $750,000.
Side hustles and tax implications
Extra income earned from side hustles may need to be reported to the IRS.
If you receive more than $600 in gross payments from a selling platform like eBay, the site will issue you a Form 1099-K to use on your tax return.
Individuals must calculate their adjusted gross income, taxable income, and deductions for the year.
Once they have this, they can use the 1040-ES form to calculate estimated taxes.
There are only about 40 of these rare Pikachu cards made.
The rarest is a 1998 Japanese Pikachu-Holo Illustrator Promo, which was purchased by influencer Logan Paul.
He reportedly spent $5.2 million on the card.
“It really is like a work of art,” Turner noted.
“This is a perfect example of scarcity meeting a cultural apogee.”
Selling old toys is a very popular side hustle.
A couple told The US Sun exclusively how they make more than $200,000 reselling vintage Barbie dolls.
Another TikToker shared how she started her shoe reselling business, earning $500,000 a month.
This story originally appeared on The-sun.com read the full story
