Frank26

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You’re only going to use the receipt if you’re ever audited.  That receipt will determine whether they will be in the 40%  or the 20% tax bracket.  You will be taxed.  Anybody that tell you that this is not a taxable event run away as quickly as possible…If you think you’re going to get away without paying taxes I’ve got some land on the moon to sell you. [Note:  Consult your tax professionals at the appropriate time to determine the correct tax for your unique circumstances.]