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While using a metal detector at the beach during spring break, Toni uncovered some rare coins with a current fair market value of $9,000. What are her tax consequences regarding…

While using a metal detector at the beach during spring break, Toni uncovered some rare coins with a current fair market value of $9,000. What are her tax consequences regarding…
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While using a metal detector at the beach during spring break, Toni uncovered some rare coins with a current fair market value of $9,000. What are her tax consequences regarding this find?

asked
User Stacj
by
8.3k points

1 Answer

4 votes

Answer:

Toni must report the whole fair market value as his income

Step-by-step explanation:

According to the tax laws you must report the whole FMV as your income

answered
User Rbennell
by
8.6k points
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