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(MSN)   EBayer sells "WHAT YOU SEE IS WHAT YOU GET" locked safe for $123.00. Apparently he didn't 'see' the $26,000 locked inside, and is now unable to 'get' it   (now.msn.com) divider line 67
    More: Fail, WMC-TV, Live ID, estate sale, tax code  
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2012-02-16 04:03:36 PM

Russ1642: If this happened to me I wouldn't say a thing about the money to anyone. "Hey everyone, I have $26,000 cash in my house"


Unless you "sold" it to a relative in Tennessee. I also wouldn't put money in a safe that I just sold to a relative in Tennessee. Nor would I expect that relative to tell anyone else that he/she has $26,000 cash in their house.
 
2012-02-16 04:03:43 PM
Do your part, if it's a repeat, report the link.

Only you can prevent repeat links!
 
2012-02-16 04:03:44 PM

Incog_Neeto: Pete and Repeat are in a boat, pete jumps out, who's left?


Quantum Pete, who in an alternate universe shoved Repeat out of the boat.
 
2012-02-16 04:03:54 PM
He must be a professional idiot. There is no way that he's managed to stay in the amateur ranks after that one.
 
2012-02-16 04:03:55 PM

JoeCowboy: KatjaMouse: Hmm... would that be taxable?

I guess technically it would be a gift and since it's over the $13k exclusion amount, safe seller has to file a gift tax return.

/A+++++++++++++++ would by moar

JC


Dunno about the gift part. There was no intent on the part of the giftor to part with this money, as he was unaware that it existed. I'm guessing it falls under Cesarini as found money, taxable in the year it came into his possession. It's considered a "treasure trove."
 
2012-02-16 04:04:04 PM
On my favorite show, storage wars, the safes that they buy NEVER have any money in them but they always get excited thinking that there is some potential. I bet the owners of the storage companies throw those in to get the bidding juiced up.

Every time I watch that show I want to go out and rent a storage locker. I'd leave it empty except for a footlocker in the middle of the room wrapped in several chains and locks. Then I'd stop paying on the locker. Whoever bought it would open the footlocker and find only a note saying "you overpaid".
 
2012-02-16 04:04:28 PM
I list things hoping they're that one oddball worth a few thousand. Not the other way around, dummy.
 
2012-02-16 04:04:38 PM

maniac64: On my favorite show, storage wars, the safes that they buy NEVER have any money in them


Not true, I'd say it's like 70/30 "nothing" to "something". I watch that show way too much.
 
2012-02-16 04:07:42 PM
s13.postimage.org
 
2012-02-16 04:08:20 PM
I remember reading about cases like this in tax law class. Something like found treasure. pretty sure it's taxable (that's what I learned about tax law, the answer to everything is, I'm pretty sure it's taxable... it was an intro course, and scared me away from my sarcastic life long dream of becoming a tax attorney).

/ but, in that class, the money was always found hidden in some old piano... I wonder if that was the actual case, or it's just a new orleans thing to hide money in pianos.
 
2012-02-16 04:08:22 PM

PainInTheASP: Repeat (new window)


PainintheASP, Pete and Re-Pete were in a boat. PainintheASP and Pete jump etc, something
 
2012-02-16 04:08:40 PM

oldtaku: Splinshints:
Can't blame him for giving it a shot. After all, worst case scenario the guy tells him no. Best case, the guy gives him $13,000.

Worst case seems to be the entire world finds out what a putz he is. If he'd just sold the safe it would be a 'doh!' but the followup stuff is what puts him into douchebag territory: "I mean, if I was in that situation and I found that kind of money and I bought it from someone, I'd say, 'Here man, I found this money. I'll give you half of it.'" Uh huh.



So, if he got $13,000 would he send $6,500 back to the person who sold him the safe?
 
2012-02-16 04:08:51 PM

The Decider: On my favorite show, storage wars, the safes that they buy NEVER have any money in them but they always get excited thinking that there is some potential. I bet the owners of the storage companies throw those in to get the bidding juiced up.

Every time I watch that show I want to go out and rent a storage locker. I'd leave it empty except for a footlocker in the middle of the room wrapped in several chains and locks. Then I'd stop paying on the locker. Whoever bought it would open the footlocker and find only a note saying "you overpaid".


Hell, when I was in Los Angeles last month, there were all sorts of storage places advertising "FIRST MONTH $1". Wouldn't set you too far back.
 
2012-02-16 04:09:45 PM

pute kisses like a man: I remember reading about cases like this in tax law class. Something like found treasure. pretty sure it's taxable (that's what I learned about tax law, the answer to everything is, I'm pretty sure it's taxable... it was an intro course, and scared me away from my sarcastic life long dream of becoming a tax attorney).

/ but, in that class, the money was always found hidden in some old piano... I wonder if that was the actual case, or it's just a new orleans thing to hide money in pianos.


Cesarini was the case, which I alluded to upthread.
 
2012-02-16 04:11:02 PM

MBooda: So how'd they get it open?


www.fusedfilm.com
 
2012-02-16 04:16:16 PM

The_Six_Fingered_Man: JoeCowboy: KatjaMouse: Hmm... would that be taxable?

I guess technically it would be a gift and since it's over the $13k exclusion amount, safe seller has to file a gift tax return.

/A+++++++++++++++ would by moar

JC

Dunno about the gift part. There was no intent on the part of the giftor to part with this money, as he was unaware that it existed. I'm guessing it falls under Cesarini as found money, taxable in the year it came into his possession. It's considered a "treasure trove."


How about if the buyer gets the money, and the seller gets the taxes?
 
2012-02-16 04:24:39 PM
Ok, in all the storage wars shows I've seen, they never have had anything in them.

/would hit Brandi like a battering ram
 
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