Big Orange 1 10 Report Share Posted July 13, 2011 Had I been the man that caught Jeter's 3000th hit ball in the stands, it would have cost him or somebody 6 figures. No doubt. 100k to Derek Jeter is like me throwing a $10 bill in the yard. What say you guys? Quote Link to comment Share on other sites More sharing options...
Lance 228 Report Share Posted July 13, 2011 Had I been the man that caught Jeter's 3000th hit ball in the stands, it would have cost him or somebody 6 figures. No doubt. 100k to Derek Jeter is like me throwing a $10 bill in the yard. What say you guys? I would have given it to Mike Rife for free lol. Quote Link to comment Share on other sites More sharing options...
beaverbaseball 10 Report Share Posted July 14, 2011 ahhh don't you just love the IRS... Report: For Exchanging Derek Jeter’s 3,000 Ball, 14K Tax Bill Awaits Yankees Fan Christian Lopez http://newyork.cbslocal.com/2011/07/12/reports-christian-lopez-faces-massive-tax-bill-for-exchanging-derek-jeters-3000-ball/ Quote Link to comment Share on other sites More sharing options...
vthokies4life 10 Report Share Posted July 14, 2011 ahhh don't you just love the IRS... Report: For Exchanging Derek Jeter’s 3,000 Ball, 14K Tax Bill Awaits Yankees Fan Christian Lopez http://newyork.cbslocal.com/2011/07/12/reports-christian-lopez-faces-massive-tax-bill-for-exchanging-derek-jeters-3000-ball/ Miller Brewing Company decided that by giving the ball to Jeter, Lopez was living the High Life. http://espn.go.com/blog/new-york/yankees/post/_/id/19848/miller-high-life-joins-the-lopez-cause Quote Link to comment Share on other sites More sharing options...
Deleted Account 5,203 Report Share Posted July 14, 2011 Miller Brewing Company decided that by giving the ball to Jeter, Lopez was living the High Life. http://espn.go.com/blog/new-york/yankees/post/_/id/19848/miller-high-life-joins-the-lopez-cause Lopez is worthy of a Miller High Life, or 14000... Quote Link to comment Share on other sites More sharing options...
Hacker 82 Report Share Posted July 14, 2011 Nice of corporate America to do this, but the money they give him still will be taxed as income. Quote Link to comment Share on other sites More sharing options...
Deleted Account 5,203 Report Share Posted July 14, 2011 Nice of corporate America to do this, but the money they give him still will be taxed as income. This is true, but I bet corporate heads are taking that into consideration. The problem with this gentleman is that he realized his income, then gave it away. Were I this gentleman's tax attorney, I would argue that the baseball's FMV basis was undetermined at the time it was given away, given that there had been no appraisal or anything of that nature. The man simply had a baseball, and should be taxed as to the FMV of a regular baseball. Probably wouldn't work, but it's worth a shot. Quote Link to comment Share on other sites More sharing options...
Hacker 82 Report Share Posted July 14, 2011 This is true, but I bet corporate heads are taking that into consideration. The problem with this gentleman is that he realized his income, then gave it away. Were I this gentleman's tax attorney, I would argue that the baseball's FMV basis was undetermined at the time it was given away, given that there had been no appraisal or anything of that nature. The man simply had a baseball, and should be taxed as to the FMV of a regular baseball. Probably wouldn't work, but it's worth a shot. I agree the ball had no intrinsic value, but the things he got from the Yankee's do. The box seats are the killer. The Yankee's could have covered that the same way corporations do. The company owns the box, that just let an employee use them. I can promise you when I have sat in corporate owned seats at NASCAR races, Tech games and Brave games, no one was paying income tax. Quote Link to comment Share on other sites More sharing options...
Deleted Account 5,203 Report Share Posted July 14, 2011 (edited) I agree the ball had no intrinsic value, but the things he got from the Yankee's do. The box seats are the killer. The Yankee's could have covered that the same way corporations do. The company owns the box, that just let an employee use them. I can promise you when I have sat in corporate owned seats at NASCAR races, Tech games and Brave games, no one was paying income tax. They should've been... I would never narc, haha, but yeah. Edit: I'm speaking of individual, not corporate, taxes. Edited July 14, 2011 by UVAObserver Quote Link to comment Share on other sites More sharing options...
gridironguru 11 Report Share Posted July 14, 2011 I guess it's true no good deed goes unpunished. Quote Link to comment Share on other sites More sharing options...
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