Should you have to pay taxes on a Baseball?

that has got to be the dumbest thing I have ever heard. a guy was lucky enough to catch a homerun ball, and he has to pay a tax to the united states government, just to keep the ball. what kind of f-ed up country is this. I wonder if the guy was canadian (or of any other nationality other than a u.s. citizen), if he would have to pay any taxes to keep the ball.

They are basically forcing him to sell it. no way any average american can pay taxes on a ball that's potentially worth half a mil.

which brings me to my next point. how would they judge how much the ball is worth if he didn't sell it? just some random appraisal guy would give it a value and he would have to pay taxes just on that?

I know it probably cost the Giants about $3.00-5.00 for the ball when they bought it in bulk from Rawlings. Maybe he should only have to pay taxes based on that amount.

this really is a stupid country. he's essentially getting fined for catching a home run ball. what he ought to do, is sell the ball to his dad for say... 10 bucks... then he only has to pay taxes on the ball for 10 bucks, and his dad would have a ball that's worth 10 bucks.

Because let's face it. a ball is only worth as much as someone will buy it for. if all he can get for it is 10 bucks... i cant see how the government can come in and force him to pay thousands of dollars in taxes for it. it's almost enough to make me want to move to Canada.

I read the article and I'm still trying to figure out how the IRS would determine the value of the ball. The value is undetermined until the ball is sold. So how much taxes would he have to pay? I'd be talking to a tax attorney first. He's going to have to pay taxes on the money he gets from the sale too. My argument would be; the ball is worth whatever the ball cost retail. That is the value of the ball. I have lots of collectibles at home. I don't have to pay taxes on any of it. I fight it.

Taxes should only be paid when the ball is sold, other collectibles are exempt from capital gains until the item is sold. What's next the IRS is going to want keep an up to date list of you baseball card collection or what comic books are in your basement and apply capital gains to any increased value.

You only pay taxes on something when it's sold. Barry Bonds baseball cost about $3, so about 30 cents tax would be fair.

It's unfortunate, but yes. The IRS is trying tax him on capital gains because the ball was worth nothing when he caught it, but when he sells it, they get to tax the gain.

Hope he and others find a loophole for our ridiculous tax code.

Vote for reform!

I agree with Wads - he should only pay taxes if he sells it - it's like winning the lottery, let the IRS take thier cut. Otherwise, leave the man alone with his prize.

Scam Scam Scam!

I would be throwing my hands up in the air and yelling if it was me.

I mean come on, it is a souvenir he just happened to catch, when did that become a tax item?

If it is a little amount of tax them yes but if is alot lyk $10 tax then that would not be fair

Pay the taxes on the $5 baseball now. They can't tax you twice on the same item, so they'll end up screwing themselves when he does end up selling it! LOL

He should only have to pay taxes on it if attempted to sell it. Sounds like highway robbery to me.