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- #51
This should clear the air.
http://sportsillustrated.cnn.com/baseball/mlb/news/1998/09/08/irs_62_update/
http://sportsillustrated.cnn.com/baseball/mlb/news/1998/09/08/irs_62_update/
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This should clear the air.
http://sportsillustrated.cnn.com/baseball/mlb/news/1998/09/08/irs_62_update/
This should clear the air.
http://sportsillustrated.cnn.com/baseball/mlb/news/1998/09/08/irs_62_update/
It seems like they are talking about not assessing taxes on the value of the ball when the fan gives the ball back to the player. The article does not mention anything about the Cardinals giving gifts to the fan who gave the ball back. Whereas the NYT article talks about the fan getting taxed on the value of the tickets and merchandise that the team gave him, not the value of the ball that he gifted to Jeter. But again, I really hope you are right and he does not get tagged with any taxes.
How would the fan get taxed on simply giving the ball back? Tax on a $1.00 baseball given back to the owner (MLB)? The whole article is about the fan avoiding taxes on any gifts he received in response to turning the ball into the team vs how much he would have to pay if he sold it at auction (40%).
You are right, but the story coming out now is about the fan is getting taxed on tickets and merchandise that the team gave him in return for the ball. Here is the article that I read: http://www.nytimes.com/2011/07/12/nyregion/fan-may-owe-taxes-for-claiming-jeters-3000th-hit.html
Yea I understand your reasoning, its just not blatently stated that anything the Yanks give the kid will be tax free. The better story to watch is to see how the fan will be affected should/when he decides to sell the tickets he is unable to use.
What remains unclear, according to the report, is whether the items would be considered a gift, rendering them not taxable.
Either way, he didn't have to accept all the "gifts" from the Yankees, he could have just given Jeter the ball, shook his hand, congratulated him on a remarkable accomplishment and went on his merry way. Jeter should have opted for a base hit and the player who fielded it would have handed it to him, but instead in today's society it's more of a "what's in it for me" attitude and it takes 50K to buy a HoF worthy baseball back from a fan.
The guy should have kept the ball, sold it, and paid off his student loan debt. He did a nice, but stupid thing. (I have read in a couple of sources he owes $100,000 to $150,000 in student loans)
Jeter = overrated on an individual basis, on the decline at his age and well overpaid...
However, credit where credit is due, he is a winner and congrats on 3000!
do you mean overrated now or for his career?
Yes he is on the decline, unless you are Barry Bonds that tends to happen when you get to your upper 30's
Agreed SV. Did you see what kind of taxes he will have to pay on what the Yankees gave him? Something like 10,000 bucks
looks like his tax issues may be solved.
http://espn.go.com/new-york/mlb/story/_/id/6765849/companies-line-help-new-york-yankees-fan-christian-lopez
he also received a 2009 World Series Ring for this....wow
good to see that he is getting some good perks for doing the right thing
I disagree that this was the right thing. It was definitely the nice thing. But also a bonehead stupid thing as well. He so should have kept it and sold it.
The guy has $150,000 in student loan debt. He could have wiped it all out.
I know I'd have sold that sucker! Sorry! Paid off the house and all my bills.