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To: Enterprise

The IRS is already counting their cut.

It’s income based on the value the day you took ownership of the propert—which becomes the basis. Then you are taxed on the capital gain.

Yes, the IRS screws you for stuff buried in the ground for 160 years.


11 posted on 07/10/2023 5:14:02 PM PDT by Vermont Lt
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To: Vermont Lt

A story on the tax liability for buried treasure.

https://www.fool.com/taxes/2014/03/08/whats-the-tax-bill-for-finding-10-million-in-burie.aspx#:~:text=According%20to%20federal%20tax%20law,take%20full%20possession%20of%20it.


17 posted on 07/10/2023 5:29:08 PM PDT by Vermont Lt
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To: Vermont Lt

I wouldn’t mind finding something like this. It would suck to have to pay the feds their cut right off the top, but I’d do it so I wouldn’t have to be looking over my shoulder after I sold the first coin.

It always amazes me how shiny gold stays. That cache is worth a LOT of money. Crazy. Heck - even at the time it was buried it was quite a bit at face value.


33 posted on 07/10/2023 8:58:21 PM PDT by 21twelve (Ever Vigilant. Never Fearful.)
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