4. Buried treasure
If you accidentally discover a treasure buried in your backyard, the IRS will bury you in taxes. According to the IRS, lost treasures that are in someone’s possession are taxable at their fair market value. Finding a treasure is pure luck, but Uncle Sam will get in your way…. again.
The IRS wants its cut of any type of treasure you find (whether money or expensive items such as jewelry). Treasures are taxable from 1964 when a couple discovered $4,467 in a used piano they had purchased at an auction sale for $15 in 1957.
So, acting like Jack Sparrow will only help you in your love life and the amount of rum you drink….
Next, is the gift that keeps on taking…..
2 thoughts on “7 Surprising Things That Are Taxable”
This article would be way more interesting if there was a paragraph that started off with “…the rich avoid this tax by….”
This is ridiculous!! We receive a fixed income (& I mean FIXED), & all our small income is taxed!!