$7 million in gold found in dead man's home

VikingDude

I bet the cousin was surprised.

Link

I wonder how much that house was torn apart?

mrearlygold

And looks whose waiting for a cut

OPA

<< <i>And looks whose waiting for a cut >>



Uncle Samaszko dead? How come I wasn't notified?

DrBuster

Further reason to leave a will that says "cousin Dale gets this lockbox, key, and treasure map".

LukeMarshall

So is it correct to assume that by willing the gold to a family member that it incurs taxes?

I don't think it should be taxed until the cousin decides to sell...

OPA

<< <i>So is it correct to assume that by willing the gold to a family member that it incurs taxes?

I don't think it should be taxed until the cousin decides to sell... >>



I guess you never heard of Estate Taxes?

DrBuster

What's the exemption on estate taxes? Isn't it 10 mil, or is it 5 when they kick in??

found it - 5mil and then it drops to a mil exempt next year before uncle scam gets his cut.

LukeMarshall

Ah, thank you OPA.

mrearlygold

<< <i>So is it correct to assume that by willing the gold to a family member that it incurs taxes?

I don't think it should be taxed until the cousin decides to sell... >>



It doesn't matter what we think or want or what's right or what makes sense or any of those things that "we" think. All that matters is what "they" want.

Spooly

My first thought was about derryb....... (evil grin) .... but he does live in Nevada!

OPA

<< <i>My first thought was about derryb....... (evil grin) .... but he does live in Nevada! >>



but his pile is in Paper & not the physical stuff

johnny9434

lets see how much of that the irs is going to take .

guitarwes

Uncle Sam is finally going to get Uncle Samaszko.

a little ironic.

OperationButter

all went to a distant cousin....

hey atleast the fed and state didnt get it all

derryb

The Miser's Tragedy

"This question — what is to be done about this lust of the IRS to get its hands on a share of people’s gold and silver that doesn’t lose its value when government issued money does lose its value — turns out to be a hot one. Utah’s junior senator, Michael Lee, has, along with Senators DeMint and Paul, introduced legislation in the Congress in Washington to remove federal taxes on the failure of gold and silver coin to lose their value."

derryb

<< <i>

<< <i>My first thought was about derryb....... (evil grin) .... but he does live in Nevada! >>



but his pile is in Paper & not the physical stuff >>


Not so. Two piles works better than one, each has its purpose. Best to hedge one's bet.
Live in Florida where there is no sales tax on coins.

mariner67

Turns out the distant cousin lives in a nearby town.
The local paper said they did contact her a few days ago but now her phone as been disconnected.
Good idea!