Put any excess boiled linseed oil that you want to dispose of to one side. Do not pour it down a sink or drain. Linseed oil cures hard and may block drains as a consequence. Do not cover the oil and make sure it is in a well-ventilated area where it will dry quickly.
Allow the linseed oil to cure for 24 hours or until it has hardened.
Throw the cured oil away with your general trash.
Place any boiled linseed soaked rags in the metal container. Linseed oil dries through a process of oxidation that produces heat. This could cause the rags to spontaneously ignite.
Seal the metal container until you're ready to dispose of the rags.
Incinerate the rags.