Blog Entry

Giving back Jeter's ball may prove tax liability

Posted on: July 12, 2011 1:56 pm
 
By Matt Snyder

And now we present to you, today's version of "no good deed goes unpunished."

Remember Christian Lopez? He was the fan who caught Derek Jeter's 3,000th hit, which was also a home run. He gave the ball back to Jeter without any monetary demands -- and he could have easily made a windfall had he put the ball up for sale. For example, Barry Bonds' 715th home run ball went for over $200,000. But when Yankees president Randy Levine asked what Lopez wanted for the Jeter ball, Lopez replied: "How about a couple signed balls, some jerseys and bats." (New York Times)

That's it. Obviously, Jeter and the Yankees granted Lopez's request. Lopez even told reporters he owed more than $100,000 in student loans, but felt the ball belonged to Jeter. Of course, Lopez is now likely going to have to pay some pretty hefty taxes on the gifts the Yankees have given him.

Via NYTimes online:
The Yankees gave Mr. Lopez four Champions Suite tickets for their remaining home games and any postseason games, along with three bats, three balls and two jerseys, all signed by Jeter. For Sunday’s game the team gave him four front-row Legends seats, which sell for up to $1,358.90 each.
With so many home games remaining at those lofty prices, it is estimated that the value of Lopez's coup could be over $50,000, which means he'd owe $14,000 in taxes. If it is determined the Yankees gave these items as an act of generosity -- instead of an exchange of goods -- Lopez wouldn't owe a dime. So it's up to the IRS.

Who would have thought, when Lopez caught the ball and did the kind thing, he may have incurred a $14,000 tax liability.

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Comments

Since: Apr 25, 2011
Posted on: July 13, 2011 7:41 am
 

Giving back Jeter's ball may prove tax liability

Wow, what a nice guy! If that were me, Jeter would of been forkin over some dough. Hell make Arod pay half because he owes Yankees fans more than the 175 million they pay him! Why cant i ever get a chance at somthing like that. I might look like a d!ck but oh well we got bills also!



Since: May 2, 2010
Posted on: July 13, 2011 3:02 am
 

Giving back Jeter's ball may prove tax liability

It is clear you grew up in a me first household and have little to no morals. The kid did the right thing
I don't know that it would have been "the wrong thing" to sell the ball. Jeter hit it, but the guy caught it.... the ball then belongs to the guy who caught it.
Doing the "nice" thing isn't necessarily the opposite of doing the wrong thing.



Since: Apr 13, 2009
Posted on: July 13, 2011 1:24 am
 

Giving back Jeter's ball may prove tax liability

Honestly, most of you guys, especially marksman and ezb, are being idiots. The guy did one of the kindest things possible, even though it would have gotten him out of debt, to be kind to someone he barely knows, without really expecting anything in return. America needs more people like him and less like some of you.



Since: Sep 1, 2008
Posted on: July 13, 2011 12:19 am
 

Giving back Jeter's ball may prove tax liability

Really you are calling the guy stupid because he mada a choice and did what he felt was right.  Well then let me just group all niner fans together and call them all stupid because you made this dumb comment.




Since: May 30, 2011
Posted on: July 12, 2011 10:46 pm
 

Giving back Jeter's ball may prove tax liability

I'm not a NY fan and I prbly would've kept the ball to sell- Now that said-
If the IRS does anything to ruin this piece of American Sports history and screw the guy who did what he thght was right, then everyone involved in trying to tax Mr. Lopez, should be fired immediately with no possibility of collecting a pension or unemployment.



Since: Nov 23, 2006
Posted on: July 12, 2011 10:37 pm
 

Giving back Jeter's ball may prove tax liability

THe guy catches a historic ball & gets his 15 minutes of fame. Ok, nice story. The media turns it into the nightly news with the IRS involved. Where do you 'sportswriters' get off?  Gimme a break.



Since: Sep 23, 2009
Posted on: July 12, 2011 10:28 pm
 

Giving back Jeter's ball may prove tax liability

Before every there are warnings to watch out for bats and balls thrown into the stands. They ask not to interfere with balls in play. Any fan who does will be ejected. They also say anyone who catches a ball that goes into the stands may keep it. This is a verbal contract which is legally binding.



Since: Nov 11, 2006
Posted on: July 12, 2011 10:28 pm
 

Giving back Jeter's ball may prove tax liability

A perfect example of how stupid Yankee fans are and just how much the organization cares about the fans.  Im so glad this happened.Money mouth



Since: Sep 23, 2009
Posted on: July 12, 2011 10:26 pm
 

Giving back Jeter's ball may prove tax liability

At the beginning of every game there are warnings of balls flying into the stands. They say any fan who catches a ball may keep it. This is a verbal contract which is legally binding.



Since: Nov 13, 2006
Posted on: July 12, 2011 9:42 pm
 

Giving back Jeter's ball may prove tax liability

Who cares about the tax liability...This guy is a liability to society........He won the lottery and gave it away...........You want to go to a Yankee game,  take your $225K and buy tickets.


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