It all begins with a baseball, fully paid for and taxed, that's hit by Barry Bonds for his record breaking home run. The guy who happens to catch it is taxed for a mysterious "estimated" pricetag on the ball before he even thinks about what to do with it. This poor guy wants to keep the ball, but has to sell it because he cant pay the tax on a "750,000 ball." When the tax on a ball has been paid once already, i find it strange they can tax you again because the ball is special in some way it wasn't when they taxed you the first time. I can understand if you find a diamond in government soil that you must pay tax on it, but this situation seems far too...over the top. I'm angered over this unreasonable taxation, even though i am not the victim.
2007-10-14 20:09:08 · 4 answers · asked by WanderingMind 1 in Sports ➔ Baseball
This question was asked and answered on the Business and Finance/Tax board. http://answers.yahoo.com/question/index;_ylt=AqX09Gt3JHtETXt9bKwkgq3ty6IX;_ylv=3?qid=20070902145053AAe1Z4G&show=7#profile-info-5ea464836fa36c8d8dfc9fe765e643d4aa As you can see, the IRS has actually ruled that it would not have been income until sold.
2007-10-14 20:26:00 · answer #1 · answered by mattapan26 7 · 0⤊ 0⤋
**** the government, those SOB's would tax you're dead grandma if they could, and the reason behind it is because every last ********** in congress supposedly "needs" a raise, like the 100k+ a year they already make for working 9 months out of the year isn't enough. Anything to chisel a buck out of the American public.
2007-10-15 05:16:09 · answer #2 · answered by ♫jmann♫ 5 · 0⤊ 0⤋
He would of not been tax until he sold it.I think someone gave Him wrong information.He did not do his homework.I personally would of sold it because of the drug use possibility Bond could of been connected with at a later time.
2007-10-14 21:37:01 · answer #3 · answered by TOM B 1 · 0⤊ 0⤋
It's like gambling,when you hit the jackpot your taxed.
2007-10-14 22:07:56 · answer #4 · answered by Linda L 3 · 0⤊ 0⤋