Reply #35: I thought what happen [View All]

[Johonny]

was he caught it and gave it back to Bonds. People said since the ball had an estimated value of say 1 million he would have to pay taxes on the money if it was realized or not. The IRS said it would not tax the guy based on estimated value of the ball or estimated value of the crap they traded him for it. Although in theory if he ever sold it he would have to pay taxes. The Yankee case is different because besides bats and signed crap they gave him tickets that have real market value. I just remember after all the media tax hype just like now, the evil IRS said it didn't care and wouldn't penalize the guy for just catching the ball.