Taxation on coin sales

I'd chalk that up to the old addage, "if a tree falls in the woods..."
Whats was lost is lost, as is still lost if anyone asks me.
Guy~

 

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Well it's not earned income, but yes it is income (same argument that if you find oil on your property, it's income, and taxable... the fact it was found rather than earned doesn't change that), and you should report it and pay taxes on it in a strictly legal sense. You probably wouldn't get caught if you didn't, but just because a cop doesn't see you fail to stop at a stop sign doesn't mean it's legal to ignore it.

You find a penny on the ground, that's taxable income too, but that falls under the realistic standard of administrative convenience (besides as the IRS rounds to the dollar anyway that would round of to 0). You find several thousand pennies, that you'd better report.

So short answer, yes (except that it's not earned income; earned income is derived from labor. Unless you had a job looking on the ground for dropped hundred dollar bills lol...)

 

Sorry for the off-topic post.

 

Good luck with your new venture.