Fan who returned Jeter ball may owe IRS for Yankees’ gifts

Chicago Sun-Times ^ | July 12, 2011 | Elliott Harris

[P-Marlowe]

The guy owes $150,000 in student loans and he GIVES the ball to Jeter? He could’ve sold it to a collector, paid off his student loans in full, and still pocketed over quite a bit of cash for what he could’ve received for it. Soon he’ll be regretting his “selfless” decision. ....if he isn’t already.

I suspect his attitude was that he didn't EARN the ball, but that Jeter EARNED it.

Frankly I would hope that I would do the same thing in the same situation.

He should not be ridiculed for his decision. He did the right thing.

[sheana]

You know all those gorgeous HGTV home giveaways. I read once that every single person who has won one has sold them immediately because they couldn’t pay the tax bill on them.

[GeronL]

15th Century Bulgarian Feminism and 11th Century Muslim Art Appreciation doesn’t count as really good degrees??

/sarc

[P-Marlowe]

Well, it may seem a hassle, but a single call from Jeter to his accountants to take care of this fan so he doesn’t owe anything would still be pocket change.

If Jeter is going to do something for this guy he should do it under the radar.

Who knows if he hasn't already taken care of him.

[GeronL]

Right. Many of the families who get the “Extreme Home Makers” on ABC also have to sell their homes because the taxes and/or mortgage becomes too high to pay.

[P-Marlowe]

Jeter needs to give him about 20k, 13 for the tax on the ball plus 7k for the tax on the 20k, which means the poor guy breaks even

Jeter doesn't NEED to do anything. The guy gave him the ball. He didn't expect anything in return. Whatever Jeter does for him is between Jeter and the guy who gave him the ball.

[Starboard]

“Then he’d [Jeter] owe tax on the $14,000. You can’t win.”

Let me tell you how it will be,
There’s one for you, nineteen for me,
‘Cause I’m the Taxman,
Yeah, I’m the Taxman.
Should five per cent appear too small,
Be thankful I don’t take it all.
‘Cause I’m the Taxman,
Yeah, I’m the Taxman.

[freedumb2003]

>>If Jeter is going to do something for this guy he should do it under the radar.<<

THAT would be class!

>>Who knows if he hasn’t already taken care of him.<<

I truly hope so.

I am not a Jeter fan nor detractor. I just know he is a big name baseball player with a bazillion dollar contract.

I just would like to see a sports star step up. It happens from time to time and it is always nice to see.

[freedumb2003]

>>Right. Many of the families who get the “Extreme Home Makers” on ABC also have to sell their homes because the taxes and/or mortgage becomes too high to pay.<<

I have read that! It seems to happen quite a bit.

[trumandogz]

They should have to pay taxes on that.

[Starboard]

he caught ball.. no tax... gave ball to yankees for 70k in tickets they couldnt sell.. owes tax on 70k.. if tried to sell tickets would prob get 15k unless yankees go to world series

---

Dems will probably introduce new legislation to “enhance revenues” by taxing balls caught by fans using a formula relating to the player’s salary. /sarc

[Baynative]

I’m growing tired of this government...

[mriguy67]

ok, maybe needs to give was the wrong term, but I bet the guy didnt know his class act would cost him money. Giving the guy 20k to pay off his debt would be like 20 bucks to u and me. Jeter needs to show as much class

[battousai]

ter should just pay the tax bill if he has even a tiny ounce of class.

A $14K charge for Jeter is like 5 bucks to most people.

The gubernmint would then probably tax that again as a gift :P

[Deaf Smith]

It appears that someone from the Yankee organization filled out a 1099 on the guy.

He should have known something was up if they asked for his full name, address and SS number when he got the 'free' stuff.

[Starboard]

“I’m growing tired of this government...”

---

“Every Aspect Of Life In America Today Is Worse” (With Obama)
Marco Rubio July 12, 2011

[bwc2221]

This guy is an idiot. He could have either sold it to Jeter who has a three-year $51 million deal with the Yankees or auctioned it off and paid off much of his student loan plus the taxes.

It is like having the winning PowerBall ticket and selling it back to the clerk at the 7-11 after you discover its a winner.

[antceecee]

If the Yankees have a scholarship foundation, perhaps they can give the fan a scholarship that pays off his school loans. That would be a very nice gesture.

[freedumb2003]

>>The gubernmint would then probably tax that again as a gift :P<<

That was P-Marlowe’s point. I would hope Jeter would handle the “gross up” to get the bill to zero.

That would be the right thing to do. To do so silently would be even better — which puts us in a sticky wicket. If Jeter takes care of this under the radar, then will people keep jabbing him? And if he does it publicly, then do people jab him for doing a publicity stunt?

Either way, if Jeter takes care of this guy, he is good in my book.

And the Yankees can also do it and go ahead and get the publicity thus avoiding the sword of Damocles...

[freedumb2003]

>>This guy is an idiot. He could have either sold it to Jeter who has a three-year $51 million deal with the Yankees or auctioned it off and paid off much of his student loan plus the taxes.<<

Or the guy has values and actually executed on them by handing the ball back to Jeter instead of ransoming it.

I would LIKE to think I would do the same. Thank God I have not been so tested.