Posted on 08/15/2016 2:20:04 PM PDT by nickcarraway
It’s income.
Except they’re actually quite often sold. It’s amazing 20 years later how few sports stars still own their trophies and rings and other symbols of their success.
....meanwhile Odungo can come up with 1.7 billion to give Iran and no one knows where it came from...Congressman never authorized it and Odungo REFUSES TO SAY.....
Now that feisty little Ping Pong (sorry, Table Tennis)player might need a few bucks.
I just got a notice from the IRS today rejecting my claim to waive an $1,100 late fee for a form I am not even required to file. Yeah, I despise them.
I have no problem with their gains being taxed. Gambling winnings are taxed. My wages and stock gains are taxed. This is what these athletes are doing for a living. Many receive endorsements and other supports. Many are truly professionals so why should they not be taxed like us serfs?
The elite athletes pay nothing out of pocket for their training. Everything is covered, plus they receive a stipend.
I was given a nice engraved desk chair on my 25th work anniversary with my employer. I was told ithe chair was worth $300 and had to pay tax on it.
“Olympians also have to pay tax on the value of the medals themselves.”
GMAFB!
Well said! Thank you!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.