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Tag:Christian Lopez
Posted on: July 13, 2011 1:43 pm
Edited on: July 13, 2011 2:30 pm
 

Companies lining up to pay Yankee fan's tax bill

By C. Trent Rosecrans

Christian LopezThe fan who returned Derek Jeter's 3,000th hit ball may get tax relief from several companies that are hoping to get good P.R. by taking care of what could be a $14,000 bill from the IRS for the goodies the Yankees gave 23-year-old Christian Lopez.

Interested parties include beer company Miller and sporting good store Modells.

"Miller High Life believes you should be rewarded for doing the right thing, not penalized," Miller High Life brand manager Brendan Noonan said, according to  Darren Rovell of CNBC. "We want to recognize Christian Lopez, and in turn everyone like him, for doing the common sense thing and help him continue to live the High Life."

Miller also offered to throw a party for Lopez and his friends with free beer.

Modells said it would donate five percent of its proceeds from Yankees gear sales from July 13-19 to Lopez's tax fund, according to ESPNNewYork.com.

After catching Jeter's ball, Lopez gave the ball back to Jeter, asking only to meet the Yankee captain. The Yankees showered him with gifts, including tickets to games for the rest of the season and autographed memorabilia, worth as much as $60,000.

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Posted on: July 12, 2011 1:56 pm
 

Giving back Jeter's ball may prove tax liability

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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Posted on: July 9, 2011 3:19 pm
Edited on: July 9, 2011 4:14 pm
 

Fan gives back Jeter's 3,000 hit ball

Derek Jeter

By C. Trent Rosecrans

Christian LopezAs Derek Jeter moved toward 3,000 hits, there were estimates that in the case of a home run for his milestone hit, the ball could be worth as much as $250,000.

Christian Lopez, 23, won't be getting cash when he turned in the ball without asking for anything in return. However, he's not going home empty handed. Lopez will get four suite tickets for every game for the rest of the season, signed bats and balls and front-row seats for tomorrow's game, YES Network reported on their telecast of the game.

"It's amazing," Lopez told the New York Daily News. "I just picked it up off the floor." 

Lopez's girlfriend, Tara Johnson, bought the tickets for Lopez for his birthday. Johnson and Lopez were joined by Lopez's father for the game. 

When Lopez was interviewed on the Yankee scoreboard during the game, he said he didn't want anything in return other than to meet Jeter.

"There's nothing I really want," Lopez said. "I got to see history in the making."

Watch Jeter's 3,000th hit here. 

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