The Miami Herald said Friday it was told by Michael Hornung, the attorney for Venjah Hunte, one of the four men charged in Taylor's death, the gun was stuffed into a white sock and flung into the Everglades.
Hornung told the newspaper that Hunte wants to help prosecutors convict Taylor's killer and that a fifth unnamed suspect went with the other four to the Fort Myers area Nov. 25 without discussing what they were going to do in Miami.
The group thought Taylor was recovering from a knee injury back in the Washington area and would not be at his Palmetto Bay residence, the report said.
Taylor was shot in the leg and bled to death.
Hornung said Hunte was told the home belonged to Taylor and contained as much as $200,000 in a black bag in one of the bedrooms.
At least one of the men said he earlier had stolen $5,000 from Taylor's home.
"It's still an active investigation … we can't comment on those kinds of details," Miami-Dade police spokesman Roy Rutland said.