Re: Why is catching a baseball taxable income?

How can the ball club say that when he caught the ball it

> was only the $5 ball that we are letting him keep, and the > IRS says he caught a $500,000 ball?

And if he did decide to keep the ball and pay the tax, how would the TRUE fair market value be determined in order to determine the amount of tax... Wouldn't the ball actually have to be sold to determine the true fair marklet. Mark

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Reply to
Mark
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No, that's what appraisers are for.

Stu

Reply to
Stuart Bronstein

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