Business Purchase Of Personal Collection Income Tax Deduction

by Alex
(Scottsdale, AZ)

Collection Income Tax Deduction

Collection Income Tax Deduction

I have a collectible stamp store online for my company.

I also have a personal stamp collection worth quite a bit.

Can I buy my personal collection for my business from myself, to make it tax deductible?

I want to do this so that I have some official proof of owning this collection, to have the value of the asset belong to the business.

Is this possible or is there a better way to go about this?

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