Witnessed Baseball History at McCovey Cove from my kayak

[ChuckE]

THIS IS FROM THE NATIONAL POST.. CAN YOU BELIEVE THIS!! THEY TRY TO NAIL YOU EVERY WAY THEY CAN. EVEN IF HE DOESN'T SELL IT..

As soon as Murphy snagged the piece of sports history, worth an estimated $500,000 by most experts, his souvenir became taxable income in the eyes of the IRS.

"It's an expensive catch," said John Barrie, a New York tax lawyer. "Once he took possession of the ball and it was his ball, it was income to him based on its value as of yesterday."

That puts Murphy, a college student from Queens who went to the game on a stopover on his way to Australia, in the highest tax bracket for individual income, facing a tax rate of about 35 percent.

Ouch... that sucks!

[Hojoman]

I don't see how he can be taxed based on owning something that has an estimated value but not yet sold. Once he sells it, I can see him getting the tax whammy.

Chuck, you went one day too early, referring to Homer No. 657.