Marc Gerson Quoted by ABC News Regarding Possible Tax on Gifts Received in Exchange for Jeter's Home Run Ball

"Yankee Fan Who Caught Derek Jeter Ball May Be in Pickle With IRS"
ABC News
07.12.11Marc Gerson comments on the tax ramifications of the tickets and memorabilia given to Yankee fan Christian Lopez in exchange for the home run ball that marked Derek Jeter's 3,000th career hit. Gerson questions if the tickets and Jeter memorabilia that Lopez received will be taxable. "There's a lot of discussion every time this comes up," said Gerson.  "Some people would say that getting the memorabilia is taxable, but there's an equal amount of weight given to it being a gift. I think the stronger argument is that it's the receipt of a gift from the Yankees to the individual," he says.
Related Files
Related Links