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IRS To Bonds Catcher: You owe us money

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I don't see how he should have to owe the IRS money if he has not sold the ball. As far as I am concerned its worthless, its just a ball. Now if he sells it for 600k or whatever, then yes he as actually amassed some wealth. A lottery ticket isn't worth anything unless you cash it in, so a baseball shouldn't be either. The value of the baseball is a matter of opinion anyways. It could be worth a million to one guy, and a ham sandwich for another. especially since its bonds, the value is very much imo variable.

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He better sell it now while he can make some money. It's just a matter of time before the feds charge him (Bonds) and the title will be taken away. I think they (Feds) were waiting for him to hit this record and then will move in with charges soon, then watch his record taken away (which he deserves to have taken away if proven guilty) to make an example out of him. It will make a bigger impact on kids if he gets the record, charged and record taken away (after proven guilty of course).

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This is ridiculous. If the government wants to follow this logic, then every home run ball ever hit in the majors has to be taxed (because they're all worth at least a couple bucks).

Yes, let's take thousands of dollars that this guy doesn't even have instead of letting him actually enjoy the fact he's got a piece of history.

If I'm ever in that kind of position, I'm covering my face up and keeping it a secret.

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I don't see how he should have to owe the IRS money if he has not sold the ball. As far as I am concerned its worthless, its just a ball. Now if he sells it for 600k or whatever, then yes he as actually amassed some wealth. A lottery ticket isn't worth anything unless you cash it in, so a baseball shouldn't be either. The value of the baseball is a matter of opinion anyways. It could be worth a million to one guy, and a ham sandwich for another. especially since its bonds, the value is very much imo variable.
I agree, there's no tax on an unrealized gain, but yeah he'll pay tax if he sells it. To say he somehow has to pay tax on the value now is stupid -- this "tax lawyer" (Good God, what an awful combination of professions that is!!!!) is just some hack trying to make a headline.

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I read about a week ago somewhere. Probably like ESPN. It is very stupid to be taxed on something that you have not sold. If It's like Bonds throwing rock's to a crowd, and the 756th rock gets taxed?? You might as well tax his 1st, 100th, 500th, 600th, 715th ball as well. For such a great friggin country, we sure are the stupidest sometimes.

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I would still sell it. You can't really show it off because someone would break into your house and steal it.

I agree...I wouldn't want the worry of someone breaking into my home either. Unless he insures it, he would be at a total loss! I would sell it too.

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