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"A California couple that discovered $10 million worth of gold coins last year will have to pay nearly half that amount in federal and state income tax, regardless of whether they sell the coins."
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It is the confiscation of people's wealth and property through dictatorial, communist means like this that is so utterly infuriating, and along with the lunatic NSA spying on American citizens and corporate raping of this country that will hopefully lead to a mass uprising.
How any governmental official anywhere near this atrocity - akin to Christie' insane lane closure fiasco - who actually believes that this theft of this couple's wealth is acceptable should be lined up and shot.
What in God's name does this have to do with the current regime?
I'm not sure about this, but as far as I can tell, taxes have not been levied against found treasure until financial gains were realized from it. You can't tax gains until you have proof there were. In the case of "treasure", there's no value until it sells.
I'm not sure about this, but as far as I can tell, taxes have not been levied against found treasure until financial gains were realized from it. You can't tax gains until you have proof there were. In the case of "treasure", there's no value until it sells.
I'm not sure about this, but as far as I can tell, taxes have not been levied against found treasure until financial gains were realized from it. You can't tax gains until you have proof there were. In the case of "treasure", there's no value until it sells.
"The finder of treasure-trove is in receipt of taxable income, for Federal income tax purposes, to the extent of its value in United States Currency, for the taxable year in which it is reduced to undisputed possession"
"The finder of treasure-trove is in receipt of taxable income, for Federal income tax purposes, to the extent of its value in United States Currency, for the taxable year in which it is reduced to undisputed possession"
"to the extent of its value in currency".
How is that determined?
Please explain. We know what stocks are worth, because the identical "thing" is selling on the open market. We know what money is worth ( technically not, but it's close enough for IRS claims), and so on.
But how do you determine the value of an antique until it sells?
Because a Communist government owns the means of production, owns the natural materials. We're not a free people any longer.
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