I:5-29 Mr. and Mrs. Pickens purchased a used piano in Y1 for their young son who had

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I:5-29 Mr. and Mrs. Pickens purchased a used piano in Y1 for their young son who had started taking piano lessons. In Y8 while cleaning the piano, Mrs. Pickens discovered $4,800 of old currency. They exchanged the old currency for new currency. Identify the tax issues involved in this situation.

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