Johonny
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Tue Jul-12-11 05:02 PM
Response to Reply #28 |
| 35. I thought what happen |
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was he caught it and gave it back to Bonds. People said since the ball had an estimated value of say 1 million he would have to pay taxes on the money if it was realized or not. The IRS said it would not tax the guy based on estimated value of the ball or estimated value of the crap they traded him for it. Although in theory if he ever sold it he would have to pay taxes. The Yankee case is different because besides bats and signed crap they gave him tickets that have real market value. I just remember after all the media tax hype just like now, the evil IRS said it didn't care and wouldn't penalize the guy for just catching the ball.
|
| -Fan Who Caught Jeter's 3,000th Hit May Owe IRS Thousands |
Springer9 |
Jul-12-11 10:50 AM |
#0 |
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Get Michele Bachmann (former tax collector) on his ass. nt |
onehandle |
Jul-12-11 10:53 AM |
#1 |
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Lesson learned I guess. Keep the ball. |
tridim |
Jul-12-11 10:55 AM |
#2 |
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Of course it would be legal. |
Tesha |
Jul-12-11 11:22 AM |
#9 |
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"Jester"! |
KamaAina |
Jul-12-11 11:36 AM |
#15 |
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That was the iPhone "fixing things" for me but, you know, it probably got it right! ;-) (NT) |
Tesha |
Jul-12-11 03:17 PM |
#31 |
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the taxes are only $5,000 - $7,500 depending on what bracket |
hfojvt |
Jul-12-11 12:39 PM |
#23 |
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Keeping the ball wouldn't change anything. |
Angleae |
Jul-12-11 11:46 PM |
#45 |
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No they couldn't. It is not income and it was not a gift. |
former9thward |
Jul-12-11 11:58 PM |
#47 |
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But it can be considered a gift. |
Angleae |
Jul-13-11 04:23 AM |
#49 |
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It is similar to finding a bag of money - or stealing a bag of money. It is taxable income. |
yellowcanine |
Jul-13-11 07:58 AM |
#52 |
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The gift tax is paid by the donor. |
former9thward |
Jul-13-11 08:58 AM |
#56 |
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More and more, I am of the belief that it would be best to just incorporate myself. nt |
Javaman |
Jul-12-11 10:57 AM |
#3 |
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Dude has box seats to ballgames and is going to get taxed for more than they're worth? |
Systematic Chaos |
Jul-12-11 11:01 AM |
#4 |
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Taxed for their worth |
joeglow3 |
Jul-12-11 11:57 AM |
#17 |
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sel-delete. nt |
awoke_in_2003 |
Jul-12-11 12:14 PM |
#19 |
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Deleted message |
Name removed |
Jul-13-11 06:32 AM |
#51 |
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anyone who objects to this |
trud |
Jul-12-11 11:02 AM |
#5 |
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The Verizon salesman will pay more taxes than Verizon Inc. |
Fuddnik |
Jul-12-11 11:04 AM |
#6 |
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Seeing that he never decided to keep it, kind of hard to say it was his. |
Kurmudgeon |
Jul-12-11 11:10 AM |
#7 |
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He isn't being asked to pay taxes on the ball. |
Tesha |
Jul-12-11 11:20 AM |
#8 |
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Why are you trying to ruin a perfectly good rant with facts? |
VeryConfused |
Jul-12-11 11:30 AM |
#10 |
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It never fails........ |
DainBramaged |
Jul-12-11 11:32 AM |
#11 |
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Why shouldn't he avoid taxes like the rich, heh heh heh? |
DainBramaged |
Jul-12-11 11:33 AM |
#12 |
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THey aren't winnings. He didn't win a prize. |
Pithlet |
Jul-12-11 04:00 PM |
#34 |
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bullshit story |
Enrique |
Jul-12-11 11:35 AM |
#13 |
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Were those prizes advertised as "prizes"? Did the team announce that whoever caught the 3,000th HR |
Brickbat |
Jul-12-11 11:35 AM |
#14 |
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He is being taxed on his gain |
joeglow3 |
Jul-12-11 11:58 AM |
#18 |
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He doesn't owe the IRS any taxes until he actually sells them! |
Better Believe It |
Jul-12-11 12:45 PM |
#25 |
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Sure he did |
joeglow3 |
Jul-12-11 12:51 PM |
#26 |
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He gave the ball back for nothing. |
killbotfactory |
Jul-14-11 10:32 PM |
#61 |
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Sort of what I was thinking. |
Chiyo-chichi |
Jul-12-11 12:23 PM |
#20 |
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Step-transactions were codified in the health care bill |
joeglow3 |
Jul-12-11 12:28 PM |
#21 |
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Gifts are taxable, in this case as income tax |
happyslug |
Jul-12-11 10:51 PM |
#42 |
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All that for seats the Yankees couldn't sell anyways. |
kick-ass-bob |
Jul-12-11 11:38 AM |
#16 |
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I thought when the guy caught the Bonds home run |
Johonny |
Jul-12-11 12:28 PM |
#22 |
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But once the guy that caught the Bond ball sold or exchanged it |
tammywammy |
Jul-12-11 01:00 PM |
#28 |
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I thought what happen |
Johonny |
Jul-12-11 05:02 PM |
#35 |
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You could be right about the ball going back to Bonds |
tammywammy |
Jul-12-11 05:10 PM |
#38 |
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We won't know the true value of these items until they are actually sold. |
Better Believe It |
Jul-12-11 12:43 PM |
#24 |
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HAHAHA! |
joeglow3 |
Jul-12-11 12:54 PM |
#27 |
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Didn't this story turn out to be fake? |
Dash87 |
Jul-12-11 02:05 PM |
#29 |
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This is a piece of Sarcasm, reading it that quickly become clear |
happyslug |
Jul-12-11 10:59 PM |
#44 |
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Accept |
masonjason22 |
Jul-12-11 02:08 PM |
#30 |
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Didn't this "tax" thing start as an internet joke? |
Renew Deal |
Jul-12-11 03:18 PM |
#32 |
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do not care--guy is a yankee fan |
dembotoz |
Jul-12-11 03:45 PM |
#33 |
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LOL!!!!!!!!!!!!!!!! |
Marrah_G |
Jul-13-11 09:18 AM |
#58 |
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Even IF he paid 25% tax on it, he could sell a few of them & make the $8K |
SoCalDem |
Jul-12-11 05:08 PM |
#36 |
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All of us "may owe the IRS thousands" - that's meaningless |
KurtNYC |
Jul-12-11 05:09 PM |
#37 |
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This is not right! |
Little Star |
Jul-12-11 05:51 PM |
#39 |
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nothings for free |
spanone |
Jul-12-11 05:52 PM |
#40 |
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Tax the rich already!!! |
Initech |
Jul-12-11 06:04 PM |
#41 |
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ya donate it to a charity and take the deduction.... |
Motown_Johnny |
Jul-12-11 10:52 PM |
#43 |
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This Red Sox Nation member says, even if that's the case |
flvegan |
Jul-12-11 11:48 PM |
#46 |
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K&R |
Cereal Kyller |
Jul-12-11 11:59 PM |
#48 |
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I just spoke to my tax professional... it was an exchange and the guy has to pay taxes on the value |
OmmmSweetOmmm |
Jul-13-11 05:11 AM |
#50 |
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I would have sold Jeter the ball and used the money to buy a house to live in |
krispos42 |
Jul-13-11 08:27 AM |
#53 |
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nevermind |
rucky |
Jul-13-11 08:29 AM |
#54 |
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My accountant says |
SnakeEyes |
Jul-13-11 08:46 AM |
#55 |
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Hey it's Ron Paul... |
tjwash |
Jul-13-11 09:05 AM |
#57 |
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If it were true, the Yankees accountants could easily set it up |
Blue_Tires |
Jul-13-11 10:11 AM |
#59 |
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So, whenever I give somebody with no money an object that has value, he's screwed? |
Commie Pinko Dirtbag |
Jul-14-11 10:25 PM |
#60 |
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Very sensational story |
Islandlife |
Jul-14-11 10:56 PM |
#62 |
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The taxes are being paid by companies. Modells being one of them. |
Fearless |
Jul-14-11 11:06 PM |
#63 |
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Great News for Jeter Fan! |
girl_interrupted |
Jul-15-11 12:25 AM |
#64 |
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