About the guy with the ball and the irs...?

Question

So if the guy that caught that 1million dollar baseball, and decides to keep it, and then dies, would the irs tax his estate the 35% of the 1million? What if he lost the ball? What if it wasnt worth anything anymore, only the 1 dollar walmart price? What if he sells it to his freind in another country who isnt a us citizen for 1 dollar? Will they tax him 350k for that 1 dollar he made?

Answer 1

If you read the media carefully, you'll see that it's not the IRS who said he'll be taxed just for having it - that's the opinion of ONE lawyer who apparently wanted to get some publicity - and he did!