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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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To: TobagoJack who wrote (104604)	2/27/2014 8:30:19 PM
From: Snowshoe	Read Replies (1) of 218157

Tax code forces treasure declaration and sale. Else they would face draconian penalties and prison terms. Upside is they get to keep half of $10 million... ;) Tax collector is coming for ‘greatest buried treasure ever unearthed’ blogs.marketwatch.com According to Kathleen Pender, a columnist at the San Francisco Chronicle, the couple who found in cans buried on their property more than 1,400 rare gold coins worth more than $10 million will probably owe close to half of that sum in federal and state income tax, whether or not they sell the coins. She quoted a 2013 tax guide in which the IRS stated: “If you find and keep property that does not belong to you that has been lost or abandoned (treasure-trove), it is taxable to you at its fair market value in the first year it is in your undisputed possession.”

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