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(Yahoo)   Homeless TX man allowed to keep $77,000 in cash and gold coins he found in a park after police inexplicably fail to figure out a way to claim it's drug money   ( divider line
    More: Spiffy, Texas, Bastrop, gold coins, Austin American-Statesman, judicial process, Mr. Cool, Colorado River, Norwalk  
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7099 clicks; posted to Main » on 14 Jun 2012 at 3:28 PM (5 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

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2012-06-14 08:16:12 PM  
1 vote:

silverjets: He's homeless. And the first thing he plans on doing with the money is buy a car.


How is he supposed to look for a house? Walk? Is he supposed to hitch a ride to get food, clothing or a hotel room? Buying a car, without a doubt, should be the first thing he does.
2012-06-14 03:35:52 PM  
1 vote:
He's going to be excited to get that $50,000 back from the police locker.
2012-06-14 01:54:34 PM  
1 vote:

scottydoesntknow: Sybarite: So, dead from alcohol poisoning in three days?

Hmmm I predict a fiery drunken-driving crash in a $75,000 Beemer (the other 2 grand going to booze).

Also, would you have to pay taxes on money you've found? I mean, I know he's not going to pay, but I'm assuming there would be taxes on it.

Found property. If you find and keep property that does not belong to you that has been lost or abandoned (treasure-trove), it is taxable to you at its fair market value in the first year it is your undisputed possession. -IRS Publication 525
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