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<p>[QUOTE=&quot;silentnviolent, post: 1878412, member: 8797&quot;]is the tax owed based on the estimated value upon evaluation or upon sale? Because technically it&#039;s not income until it is sold.</p><p>&nbsp;</p><p>what if they just keep some and never sell them? Are taxes due on them? I know that there would be inheritance tax for the heirs, but as far as the discoverers are concerned, no taxes need be paid until a sale is made, correct?</p><p>&nbsp;</p><p>for instance, I live in a mining town. In addition to big mines, there are small quarries, etc. Land owners of all types dig up these big boulders. I&#039;m talking like 5-6 ft diameter or bigger. No precious metals, just a big rock. (land owners do not own mineral rights here; the mines do. But they care little about these rocks).</p><p>Some of the more well off folks out there seem to like these giant rocks as lawn ornaments, and they are willing to pay BIG money for them to be delivered for landscaping. These things weigh many tons each and are transported nationwide.</p><p>&nbsp;</p><p>now, if I have these boulders for sale in my front yard as I dig them up, would I be expected to pay tax on them as I dig them, or as I sell them?[/QUOTE]</p><p><br /></p>

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