08-22-2007, 08:33 PM
What of he had decided to give it to Barry? Does the guy assume ownership of the ball as soon as he catches it and thus be held accountable for the tax on it? Then he hands it over to barry with no money changing hands. Dies Barry have to pay the tax upon receipt?
There is no way to place a value on that ball until it is sold for cold hard cash. Estimated value is a joke. There is no consensus on the value so there is no legitimate way to estimate it.
I do know this, though. If they stick it to this guy, I'm going to claim each and every expense involved in going to any baseball game from here on out. Travel expenses, food, game tickets.... everything. You name it. If they are going to claim it as "income", I'm gonna claim it as a job. I figure I can probably get away with showing a loss for up... what is it, three years?
I'm amazed that I'm still amazed that the little guy still gets shafted at every opportunity in this country. For Christ's sake it's a baseball.
There is no way to place a value on that ball until it is sold for cold hard cash. Estimated value is a joke. There is no consensus on the value so there is no legitimate way to estimate it.
I do know this, though. If they stick it to this guy, I'm going to claim each and every expense involved in going to any baseball game from here on out. Travel expenses, food, game tickets.... everything. You name it. If they are going to claim it as "income", I'm gonna claim it as a job. I figure I can probably get away with showing a loss for up... what is it, three years?
I'm amazed that I'm still amazed that the little guy still gets shafted at every opportunity in this country. For Christ's sake it's a baseball.