- 4 -
and 100 Cleveland Indians programs.2
Raymond goes to flea markets five or six times a week. He
attends baseball card shows once or twice a month. Raymond does
not have a booth to sell cards at the shows, but he trades, buys,
and sells cards at the shows. Over the years, Raymond created a
cash hoard primarily from periodic sales of his memorabilia.
For about 20 years, Raymond has stored most of the items he
has collected in part of an old building (the warehouse).
Although Raymond displayed some of his sports cards and
collectibles in the front part of the warehouse, most of the
items were in disorganized piles. The warehouse is known as Ohio
Hobby Dealers Supply. Raymond pays $500 per month rent for the
warehouse. In addition to the warehouse, the building also
houses a gym, a travel agency, a mission, and a print shop.
Raymond also stores some of his memorabilia in an old church
building that he rents from St. Vladimir's. He began renting
with a 3-year option to purchase from St. Vladimir's in 1991 or
1992. He paid from $200 to $500 per month for rent and $5,000
for the option to purchase. At the end of the 3-year option
period, Raymond did not purchase the building and forfeited the
$5,000.
Raymond did not deduct on his income tax returns the rent
paid for any site where the items he has collected were stored.
2Raymond used to clean out Cleveland Stadium. After every
game he would collect all of the unused scorecards and programs.
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Last modified: May 25, 2011