Jack Wagster and friend Nick Gorman told Nick's mother, who bought the couch from a couple in Kirkland, Wash.
A Facebook search found the wallet's owner - 28-year-old Alanna Jensen, who now lives in Arizona. She lost her billfold in 2005 at a party.
She told The Daily Herald of Everett she was excited and grateful to get it back. She gave the boys $25 rewards and the mother, Tracee Gorman, a $20 gift card for coffee.
Nick's 12-year-old brother Nathan later searched the couch, too. He found a couple of dollars in coins, two lipsticks, a piece of candy and a dog bone.