Bridgette is known as the “doll lady.” She started collecting dolls as a child, always received one or more dolls as gifts on her birthday, never sold any dolls, and eventually owned 600 dolls. She is retiring and moving to a small apartment and has decided to sell her collection. She lists the dolls on an Internet auction site and, to her great surprise, receives an offer from another doll collector for $45,000 for the entire collection. Bridgette sells the entire collection, except for five dolls she purchased during the last year. She owned all of the dolls sold for more than a year. What tax factors should Bridgette consider in deciding how to report the sale?