Yahoo! Sports, which has been, like every other sports outlet, following Barry Bonds’ record run in all it’s annoyingness. Barry Bonds juicing himself doesn’t particularly concern me. The ridiculous media coverage bugs me, but ultimately doesn’t concern me.
This really, really concerns me
This story hasn’t been resolved yet, but I would urge everyone to keep their ears open. If the IRS counts this ball as taxable income, then every person with a coin collection, autographed football or sweaty towel that Joe Namath threw at them can have the IRS walk in and have their memorabilia counted as taxable income.
Please share widely!
Until he sells it, he has a $5 baseball. If my stock holdings go up, I don’t get taxed immediately on the their estimated value.
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This “estimated value” justification really galls me. What if it goes to auction and only brings in $100K?
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Let the poor guy sell it before hitting him with a tax bill.