It was announced today that the man who caught Bonds' 756th home run will auction off the ball, citing tax concerns.
This makes me seething angry. It's injustice. It makes no sense whatsoever. Just because the guy caught the ball, the IRS has decided that it will come after him for taxes on the ball.
WHAT?? The ball, estimated to go for about 500,000, could cost the student thousands of dollars in taxes just for holding onto the ball.
Sooo...if he went onto the street and decided to GIVE the ball to someone....they would all of a sudden owe thousands of dollars?? i just don't get it. It all seems wrong and backwards to me. I mean i can see him owing on taxes if he sold the ball, because he is making money off of it. But for just putting it on his mantle?? Its plain ignorance!!!!
Please someone explain this to me so it makes more sense, though I can't see that happening. I'm expecting it to only make me angrier.