Hey Guys.
I have a quick question. I'm not very educated about this kind of stuff. Say someone who just collects sports memorabilia and does not own a business, bought an item at a low price and sold it for a substantial profit - should you claim this under federal tax?

Or how about you receive a bat at a baseball game and later on sell it. Should you claim that too?

Lets here your thoughts! or even some stories (good/bad).