Jeter 3000 is a homerun!!


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.
 
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%).
 
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
 
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.
 
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.

Yeah, unfortunately I dont think its gonna be tax free. He got a lot of valuable stuff, and he seems to be intending on using all of the tickets they gave him. He said "Worse comes to worse, I'll have to pay the taxes," he told the Daily News on Monday. "I'm not going to return the seats. I have a lot of family and friends who will help me out if need be. The IRS has a job to do, so I'm not going to hold it against them, but it would be cool if they helped me out a little on this."
 
The original story posted did mention the possibility of it being a gift:

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.
 
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.

LOL, he should of just dropped a bunt down to the 3rd base line ...

BTW it was reported the fan gave the ball back and did not request payment.
 
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!
 
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)

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
 
I actually posted the news story yesterday. Still haven't seen that it will for sure be considered a gift, in which case he won't have to pay taxes on it (though it will affect his lifetime tax-free gift amount).
 
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
 
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. He is aging has lost some range and has lost some with the bat, but he will go down as one of the best SS in MLB history. He is a class act and one of the few Yankees I have any respect for. The 3000 hits was well deserved.
 
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

He could probable sell a few games to cover his tax bill if necessary. Also, just curious how someone who isn't a Doctor or Graduate student runs up $100k in student loan debt?
 
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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.
 
The guy has $150,000 in student loan debt. He could have wiped it all out.

He could sell some of the baseball cards he owns too and have the same result. I think the ball belongs with either Jeter or with baseball (Cooperstown). I am discouraged with many people out to make a quick $$$ today. When I was a kid and my dad took me to Yankee Stadium, I got as many autographs as I could and I kept those in a book and tried to get the entire team. (never did) Today when I go to the ball park (if I can afford it) I see grown men pushing the little kids out of the way so they can get a few autographs on items so they can put it on ebay and make some $$$. It aint right to me!!! Kudos to the guy for doing the right thing!!
 
I know I'd have sold that sucker! Sorry! Paid off the house and all my bills.
 
I know I'd have sold that sucker! Sorry! Paid off the house and all my bills.

Yep, me being debt free is way cooler than tickets to games or whatever else he got. Unless he is allowed to sale those items.

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