What Lego set did you buy today?

[Sfcommando14]

Question on this haul... How were the Rewards points obtained?  Through purchases of other Lego or regular credit card use (everything else)?

Maybe there isn't anything else to use the Reward points on (for my family it's on child diapers and other kid stuff) so if so then I really don't have a question, but essentially using those reward points towards this purchase increases your Gain ( your basis is lower) when sold which increases your taxable income, unless of course you are not reporting the gains as taxable income or reporting your inventory how I believe it should be reported.

Also, please don't see this as a "how dare you " question, I'm generally curious.  If you have nothing else to use the rewards on then it makes total sense to use them for this, or possibly you are adding back the rewards portion to the value of your inventory?  Maybe this should be a different topic, and it probably already is.

I haven't sniffed around the complete benefits of using rewards points vs having a credit card that gives somewhere between 1-5% back on purchases, which can be used as cash and doesn't necessarily reduce your basis in the inventory, thus your taxable gain is less.

 

I know there is punctuation, but man is that a confusing stream-of-conscious list of questions.

[Pseudoty]

28 minutes ago, LegoMan1212 said:

Question on this haul... How were the Rewards points obtained?  Through purchases of other Lego or regular credit card use (everything else)?

Maybe there isn't anything else to use the Reward points on (for my family it's on child diapers and other kid stuff) so if so then I really don't have a question, but essentially using those reward points towards this purchase increases your Gain ( your basis is lower) when sold which increases your taxable income, unless of course you are not reporting the gains as taxable income or reporting your inventory how I believe it should be reported.

Also, please don't see this as a "how dare you " question, I'm generally curious.  If you have nothing else to use the rewards on then it makes total sense to use them for this, or possibly you are adding back the rewards portion to the value of your inventory?  Maybe this should be a different topic, and it probably already is.

I haven't sniffed around the complete benefits of using rewards points vs having a credit card that gives somewhere between 1-5% back on purchases, which can be used as cash and doesn't necessarily reduce your basis in the inventory, thus your taxable gain is less.

 

You would have to read around a few threads. OBTW I think you were asking me not @chinothegeeko. So in the Rewards thread and/or the TRUTH thread, to tired to look for a link, you will see that I posted Rewards R Us accounts were hacked back around October or November, I am old and can't recall, see print screen. So TRU gave me all the possible points during the earring period on both my accounts 35K and 15K. So that is where the points came from TRU. 

"reporting your inventory how I believe it should be reported" this I found offensive and pedantic. Oh and I can't punctuate either so no grammar police please. Let's say I drop ship well over 1000 of TRU SKUs this would give more then enough points to buy diapers and milk for the kids, except the kids are grown and gone and I am a vegan (that part is confabulation for the fun off it). I have a CPA that does taxes for people that gross 1 - 1.5 Million a month on Amazon so he handles that part. 

Howcome I use my rewards on Lego even though it is no longer the best investment choice IMO, well if you look at the "What set did I build today thread" you will see I have a nasty lego (notice I didn't say LEGOS) building addiction, as well as an affinity to horde Nexo Knights for my personal collection (see the Nexo thread) even though @Val-E thinks they are poop, it brings joy to my other sorrowful life. We can't all be a BTP like @ravenb99 and walk into the lego store and drop 60 Gs on cases of sets plus I don't have time for that I have a day job. So most of this will be built like the Town Homes I need to do the other 2 versions, gotta make some Ninjago Mech MOCs one of these days even though I still haven't done that with the Samurai Mech I got from @Darth_Raichu like 3 years ago. The Dino's well they are just that Dinos and one can never have enough and the blue robot is cute and cheap for a set that includes a light brick. Perhaps the cheapest set that comes with one, not sure but I bet @TheOrcKing will let us know. 

As far as using a Rewards CC vs cashback card or even better 20% discount GC if you look in the TRUTH thread you will see lots of chatter about partial pay and using all of them at once. Some people on here like @Bold-Arrow call it TRU magic. 

Not sure if I answered your question but I tried. 

[Darth_Raichu]

16 minutes ago, Pseudoty said:

gotta make some Ninjago Mech MOCs one of these days even though I still haven't done that with the Samurai Mech I got from @Darth_Raichu like 3 years ago.

I can't believe you have not added those shields to your Samurai Mech like we talked about.. is it really 3 years ago???

[LegoMan1212]

1 hour ago, Pseudoty said:

You would have to read around a few threads. OBTW I think you were asking me not @chinothegeeko. So in the Rewards thread and/or the TRUTH thread, to tired to look for a link, you will see that I posted Rewards R Us accounts were hacked back around October or November, I am old and can't recall, see print screen. So TRU gave me all the possible points during the earring period on both my accounts 35K and 15K. So that is where the points came from TRU. 

"reporting your inventory how I believe it should be reported" this I found offensive and pedantic. Oh and I can't punctuate either so no grammar police please. Let's say I drop ship well over 1000 of TRU SKUs this would give more then enough points to buy diapers and milk for the kids, except the kids are grown and gone and I am a vegan (that part is confabulation for the fun off it). I have a CPA that does taxes for people that gross 1 - 1.5 Million a month on Amazon so he handles that part. 

Howcome I use my rewards on Lego even though it is no longer the best investment choice IMO, well if you look at the "What set did I build today thread" you will see I have a nasty lego (notice I didn't say LEGOS) building addiction, as well as an affinity to horde Nexo Knights for my personal collection (see the Nexo thread) even though @Val-E thinks they are poop, it brings joy to my other sorrowful life. We can't all be a BTP like @ravenb99 and walk into the lego store and drop 60 Gs on cases of sets plus I don't have time for that I have a day job. So most of this will be built like the Town Homes I need to do the other 2 versions, gotta make some Ninjago Mech MOCs one of these days even though I still haven't done that with the Samurai Mech I got from @Darth_Raichu like 3 years ago. The Dino's well they are just that Dinos and one can never have enough and the blue robot is cute and cheap for a set that includes a light brick. Perhaps the cheapest set that comes with one, not sure but I bet @TheOrcKing will let us know. 

As far as using a Rewards CC vs cashback card or even better 20% discount GC if you look in the TRUTH thread you will see lots of chatter about partial pay and using all of them at once. Some people on here like @Bold-Arrow call it TRU magic. 

Not sure if I answered your question but I tried. 

Thanks for the reply, kind of answered it.  I'm an accountant by trade so these types of questions are always in my head about how to best report "our basis" for the inventory that we collect to resell and when to use rewards on business transactions vs personal transactions (even if they were generated from one or the other).  I'm no where near the amount of points that nearly all of you have so it's also small game vs big game here too.  I'm pretty sure my wife would murder me if I ever get close too.

Quick example... (not entirely to do with TRU)

You have $100 of freebies to anything (Earned Rebate Checks).   This can be used on personal purchases and you save $100 total and that's it, or...

You use it to buy 1 Lego, which cost $120 originally so you get it for $20.  Then you sell that Lego for $120.  Now you have a gain of $100 that will be taxed at your filing rate (between 15 - 33% I believe the range is);  unless you are able to contribute that $100 rebate to the company to increase your base in inventory, of which, when that sale is made, your cash increases but you have no gain, and no tax to pay on that item.  This is where my head gets filled with thoughts of, is everyone doing this, or are they putting their base down as $20 and getting taxed more than they should be.  If anything, talk with your accountants to make sure you are not being hit harder than you have to.   Then everyone wins.  Hell, maybe some disagree with that method.  I haven't gone through a full-year of this myself and I consider this a Hobby for now until I believe I can actually make it into a business.

 

[justapilgrim]

My business had a lot of expenses....only pay taxes on profit

[TheOrcKing]

On ‎3‎/‎10‎/‎2017 at 10:54 PM, Pseudoty said:

the blue robot is cute and cheap for a set that includes a light brick. Perhaps the cheapest set that comes with one, not sure but I bet @TheOrcKing will let us know. 

Indubitably. There was the 5764 Rescue Robot from 2011 which was slightly cheaper at $16.99 but did have fewer pieces. Altogether to this point there has been a total of nineteen sets to include that specific light brick.

[LegoMan1212]

Picked up the following today.  Total cost $300.  Each small pack was $5 each and picked up 5 of the starter packs for $20 each, then set 75147 for $20 each too (3 total).  

In terms of selling the dimensions, I would imagine it is better to group some of the packs together (3 or 4) to save myself on being charged shipping and not have to ship so many individual things and save time?  I'm open to suggestions here on these as I've never dealt with them before.  

[Phil B]

5 minutes ago, LegoMan1212 said:

Picked up the following today.  Total cost $300.  Each small pack was $5 each and picked up 5 of the starter packs for $20 each, then set 75147 for $20 each too (3 total).  

In terms of selling the dimensions, I would imagine it is better to group some of the packs together (3 or 4) to save myself on being charged shipping and not have to ship so many individual things and save time?  I'm open to suggestions here on these as I've never dealt with them before.  

 

Just remember that many of those items were picked up for $0.99 by others.

Also, it's best to have a plan for selling BEFORE you plonk down $300. I've made a 100% ROI on Starter Packs (PS4 ones) at ~$29, even excluding the money I got for the Supergirl polybags (yours don't seem to have Supergirl), however, it wasn't a fast sell and it required quite some tinkering to get the right part-out bundles. I don't think there is much money to be made in selling them complete - you would really need to create a bundle that is worth something to a buyer, which means having exclusive content besides the dime-a-dozen items that were scooped up at $0.99 over the last 2 months.

Don't forget that a bundle of Starter pack plus 3-4 level/team packs will have cost you ~$40. To get to a 100% ROI you'd need to sell for $100 (EBay).

[exciter1]

3 minutes ago, Phil B said:

Just remember that many of those items were picked up for $0.99 by others.

Also, it's best to have a plan for selling BEFORE you plonk down $300. I've made a 100% ROI on Starter Packs (PS4 ones) at ~$29, even excluding the money I got for the Supergirl polybags (yours don't seem to have Supergirl), however, it wasn't a fast sell and it required quite some tinkering to get the right part-out bundles. I don't think there is much money to be made in selling them complete - you would really need to create a bundle that is worth something to a buyer, which means having exclusive content besides the dime-a-dozen items that were scooped up at $0.99 over the last 2 months.

Don't forget that a bundle of Starter pack plus 3-4 level/team packs will have cost you ~$40. To get to a 100% ROI you'd need to sell for $100 (EBay).

4-year hold

[LegoMan1212]

6 minutes ago, Phil B said:

Just remember that many of those items were picked up for $0.99 by others.

Also, it's best to have a plan for selling BEFORE you plonk down $300. I've made a 100% ROI on Starter Packs (PS4 ones) at ~$29, even excluding the money I got for the Supergirl polybags (yours don't seem to have Supergirl), however, it wasn't a fast sell and it required quite some tinkering to get the right part-out bundles. I don't think there is much money to be made in selling them complete - you would really need to create a bundle that is worth something to a buyer, which means having exclusive content besides the dime-a-dozen items that were scooped up at $0.99 over the last 2 months.

Don't forget that a bundle of Starter pack plus 3-4 level/team packs will have cost you ~$40. To get to a 100% ROI you'd need to sell for $100 (EBay).

Appreciate the insight, live and learn on many of these things.  I'll have to see if I can figure anything out, otherwise, there's always a receipt to return if needed.  

[Lordoflego]

1 minute ago, LegoMan1212 said:

Appreciate the insight, live and learn on many of these things.  I'll have to see if I can figure anything out, otherwise, there's always a receipt to return if needed.  

Yes, hold on to that receipt, like @Phil B said, most of those packs were bought by by many people for $1.

[Phil B]

3 minutes ago, LegoMan1212 said:

Appreciate the insight, live and learn on many of these things.  I'll have to see if I can figure anything out, otherwise, there's always a receipt to return if needed.  

Dimensions was an interesting part-out opportunity BEFORE the whole 99-Cents Only phenomenon. Right now the market seems a bit saturated, and there are only so many buyers out there. As Exciter1 said, you might need to prepare for a long hold.

[LegoMan1212]

1 minute ago, Phil B said:

Dimensions was an interesting part-out opportunity BEFORE the whole 99-Cents Only phenomenon. Right now the market seems a bit saturated, and there are only so many buyers out there. As Exciter1 said, you might need to prepare for a long hold.

Glad I posted this then instead of seeing what happened.  

I'm going to put some up on Ebay, maybe some CL and see what happens. I'm not gunning for 100% and am always happy with anything above 0.  (simply upping my ebay rating feel satisfying as well so I become a more trusted seller)

I figured that there was a chance these were part of that craze but living in the Midwest, those stores don't exist around us (that I know of at least).  

Appreciate the quick feedback.  You guys are great!  Maybe I'll just buy a PS4 and see what the hell this game even is!

[Shen]

My SAH order arrived. I ordered Monday when w/ double VIP points.

[TigerEyez]

Three of the riddler copacks from Walmart for $22 each

[Furious_george]

7 hours ago, LegoMan1212 said:

Appreciate the insight, live and learn on many of these things.  I'll have to see if I can figure anything out, otherwise, there's always a receipt to return if needed.  

I don't live in the US and even I knew these were a dollar. Don't lose that receipt. 

[LegoMan1212]

1 hour ago, Furious_george said:

I don't live in the US and even I knew these were a dollar. Don't lose that receipt. 

It's only been an hour on Ebay, and have already sold just 2 for $44 total.  Some were $1, but not all.  

I'm like Tommy's dad, I can sell a ketchup Popsicle to a woman in white gloves.

[Furious_george]

Didn't say you couldn't sell them. I said they were a dollar.

[thoroakenfelder]

I bought several boxes of used Lego, not exactly a set, but we'll see what's there when it arrives. I need plain bricks for bricklink.

[KvHulk]

For my own collection for me and the wife to build:

LEGO 41311 Friends Heartlake Pizzeria - $12.15
LEGO 60151 City Dragster Transporter - $12.15

after sales, coupons, syw magic and discounted gc's...

Also

LEGO 70907 The LEGO Batman Movie Killer Croc Tail-Gator - $31.50

[Sprocket77]

Raptor Escape and Dilophosaurus Ambush, used, but both complete with box and instructions, €45 for the pair 

[whoisbiggles]

6162-1 Building Fun with Lego AUD$20

[legodelorean]

On 3/11/2017 at 9:53 AM, Phil B said:

Just remember that many of those items were picked up for $0.99 by others.

Like me.........Scooby, JW, and Doctor Who all were $0.99. Buying at a higher price right now is definitely not a good idea.

[legodelorean]

On 3/11/2017 at 10:10 AM, LegoMan1212 said:

Glad I posted this then instead of seeing what happened.  

I'm going to put some up on Ebay, maybe some CL and see what happens. I'm not gunning for 100% and am always happy with anything above 0.  (simply upping my ebay rating feel satisfying as well so I become a more trusted seller)

I figured that there was a chance these were part of that craze but living in the Midwest, those stores don't exist around us (that I know of at least).  

Appreciate the quick feedback.  You guys are great!  Maybe I'll just buy a PS4 and see what the hell this game even is!

Definitely keep the receipt. You may want to return the sets that were available for $0.99.  The other packs that you had that were Mission Impossible and Joker and Harley Quinn seem fine. 

[mizeur]

$30 Chicago Skyline on TRU's ebay store after a 10off30 coupon.