I have no problem with the IRS taxing the person who sells the ball Barry Bonds hit if he sells it. But isn't taxing it before its sold opening a can or worms?
If they can tax him for its assumed value then why not tax players for the stuff they keep that has value if sold? How much could a superbowl ring or ball bring on the market? Or even the trophy itself. Its not fair to tell a fan he must pay taxes even if he wants to keep the ball and then not tax players items of value they keep at home. Or for that matter the IRS should go to Bush's residence and total up the auction value of every item he got as a gift from his days as an baseball owner and even the stuff he was given as governpr and president. I'm sure he has lots of items given as gifts by other leaders that would be worth a lot on the auction block.
I bet Barry Bonds kept the bat that hit the record ball. Why isn't the IRS taxing that item too? It could fetch a lot at aution.
2007-08-11 09:43:22 · 4 answers · asked by Steve C 2 in Business & Finance ➔ Taxes ➔ United States
no they shouldnt and cant he should go to court because he could win. they value of that ball is just that. a 2 dollar major league ball thats it and in court it wouldnt matter if george washington and aberham lincoln played ball with it, its material value is the only thing they can tax and that is a 2 dollar offial professional baseball.
also should i mention the word museum. why dont they tax those things. priceless items billion of dollar worth of stuff hmmm
2007-08-11 09:50:16 · answer #1 · answered by Anonymous · 0⤊ 3⤋
The IRS has NOT made any pronouncement on the tax status of that ball. One publicity-whore of an attorney has claimed that he'd be taxed but that's about it. Since it's not possible to set a realistic value on the ball until it's sold -- there are no comps for an appraisal -- the IRS will have to wait for a sale.
2007-08-11 17:39:16 · answer #2 · answered by Bostonian In MO 7 · 2⤊ 0⤋
I think it's outrageous that there taxing that kid. Like you said if he sells it that's a totally different thing. They give an a number who knows what the ball will be worth until it sold. Any way to make a dollar there all over it.
2007-08-11 16:51:44 · answer #3 · answered by Anonymous · 0⤊ 3⤋
I was astounded when I read that article in the news . You have a good point about taxing the players they own a lot of collectible items that are worht millions tax them and leave the little people alone .
2007-08-11 16:51:36 · answer #4 · answered by cuffsnstuff364 3 · 0⤊ 2⤋