This certainly qualifies for an "oldie but goodie" thread...COOL find!
RE: the taxable consequences...allow me to assure you with my refiner's hat squarely perched upon my brown tresses,
...there is NO taxable consequence to finding anything precious metal ...UNTIL YOU SELL IT.
Today's new Patriot Act just reauthorized has chomped down on buyers who are NOT keeping good records, and the penalties are severe. It's all in the name of anti-money laundering and anti-terrorism, etc.
Always wondered if gold, etc., found in the wet perimeter of oceans, etc., counts as laundered money.... 
The tax bite is short term capital gains on those profits. Good record keeping can be a blessing OR a curse.
If one is treating their MD'ing as a
Schedule C biz, then there are all kinds of benes if one DOES keep good records. If one keeps track of mileage, hours, supplies, tools, etc., and uses that to create a cost basis for their sales, then they are in good stead.
I have one ebayer permanently marked as a good treasure seller of their MD finds.
No, I'm not a tax professional, so consult one, okay? But I do have Schedule C form experience, and I do pay my taxes, same as everyone else on here, right?
Again, nice link, outback. Keep'em comin'....
Megan Rose
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Please Register or Login FIVE Kits To help YOU locate Discarded, Above Ground CHEAP gold, silver, plat+ Yup, I find gold for about $20 oz cost!
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