I'm back.

 

Who gets to pick the appraiser? The IRS or the taxpayer? Personally, I'd pick about 5 of them and take the appraisal that has the lowest amount on it. If the IRS wants to fight my value, they can pay for their own appraiser.

 

I think that's what will happen. Both will have appraisers. The taxpayer will lowball it, the IRS will be too high, and then they will negotiate, and settle somewhere between...but the IRS knows that many of the experts are saying $500-600k, so they will fight to keep it in that range. Depends on who is negotiating for the government and the taxpayer, and how tough they are, who will get the best of it. Or, maybe they will not be able to agree at all, and it will end up in tax court. I still say the guy sells the ball and that's the end of it...

I think that's what will happen. Both will have appraisers. The taxpayer will lowball it, the IRS will be too high, and then they will negotiate, and settle somewhere between...but the IRS knows that many of the experts are saying $500-600k, so they will fight to keep it in that range. Depends on who is negotiating for the government and the taxpayer, and how tough they are, who will get the best of it. Or, maybe they will not be able to agree at all, and it will end up in tax court. I still say the guy sells the ball and that's the end of it...

Everything I've read says he'd be stupid not to. The value of the ball is very unstable and is expected to head down over time.

Everything I've read says he'd be stupid not to. The value of the ball is very unstable and is expected to head down over time.

 

:thumb:

Catching the ball is like winning the lottery. You would tax those people, wouldn't you?

I'm against the Lottery being taxed too.

I'm against the Lottery being taxed too.

I don't think it should be taxed in the state you win it in.

What? I'll put my mom on speaker phone.

 

One of my favorite subtle jokes in commercials.

I disagree will all of this. We will agree to disagree. And you don't have to wait for the charity to sell the ball to get your deduction. Your deduction is backed up by...guess what...an appraisal.

 

I would agree. I've donated a car to charity before and immediately took the deduction. I have no clue when the car was actually sold by the charity.

There's only one HR ball that was hit to break the long-standing record.

But that is no longer the record holder. I would think the final ball is the most valued one.

I'm against the Lottery being taxed too.

 

 

Why? It's income just like your paycheck is.

The tax lawyers are split in the other direction, so that makes it 50/50.

This is AN IRRELEVANT fact. In fact, ALL of the facts about what WILL happen are irrelevant.

 

The Thread said "Should the IRS be able to collect taxes from the kid who caught #756?"

 

This is a political question.

 

It separates those who think things belong to their owner, versus those who think THEY (via the government) deserve to take part of it away.

But that is no longer the record holder. I would think the final ball is the most valued one.

 

I'm no collector but I'd be shocked if #756 is not THE most valuable ball regardless of how many he hits until , maybe, #800.

They don't tax other baseballs and they're worth about 6 dollars a piece probably. If you add all of them up over time a lot of people owe a little money. Why take it from this guy, especially since he hasn't sold the ball (made money). I'd buy a baseball and show them a receipt and then tell them I'll pay the sales tax.