On what grounds can the government make someone pay taxes for a homerun ball?

[Savio]

come on now

[RP]

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[Kris P Lettus]

The money he earns from selling it can def be taxed..

Same if you win the lottery or find oil in your backyard..

[Nervous Ferret]

Yes but if he doesn't sell it, apparently he can be taxed on the assumed value of the ball. that's gay

[toxic rooster]

:lol: America

[Skippord]

:rofl: Australia

[YOUR Hero]

yeah the whole thing about him saying he'd like to keep it and then being taxed on it's value is ridiculous. Basically it means a person cannot have something of high value if they can't pay the taxes for it. Absolutely stupid rule. If he doesn't sell it, it's not worth anything.

The taxes are going to be like 210K on it. So basically he's forced to sell it whether he wants to or not.

[Gonzo]

Thats pretty much straight bullshit.

[Bad Company]

Thats fucking stupid. Fucken America man, America!

[darkpower]

Hard question.

I'm sure there are ways one can "workaround" the system (don't ask me what they are), but they end up closing all avenues they see anymore.

[Stickman]

USA! USA! USA!

[Gonzo]

Its ridiculous because if he keeps the ball he isn't gaining any income off it. So what the hell are they taxing him on? Potential income? If he ever sold the ball he would have to claim it on his taxes, at which point he would be taxed. If he kept the ball, the ball would likely accumulate more value and the government would get more by taxing it then than now.

[ClockShot]

I could see if the ball had diamond incrusted stiching and an Ivory finish just for breaking the record. Sure that was a ridiculous example. But just a regular old official MLB baseball made by Rawlings, yeah there should be no taxes on it unless you sell it.

[Outsider]

They're the government, they can tax anything they want. If you think about it, all taxes are completely random.

[BCWWF]

You're not taxes on overall net worth in the U.S., unless the ball falls under income tax.

Anyway, why would you keep the ball? It's a lot cooler to have thousands of dollars rather than a shitty ball.

[YOUR Hero]

You keep it because it'a one of a kind. You have something no one else in the world does. Some people are pretty keen on facts like that.

[Reavant]

so what american politician wants the ball?