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July 10, 2011 6:31 am at 6:31 am
#784388
popa_bar_abba
Participant
How about that fan who gave back the ball?
Well technically, the fan has to pay income tax on the value of the ball, and then also pay gift tax if it exceeds 13k and he is over the 5 million exclusion.
But the IRS doesn’t come after you for it because the publicity is too bad for the govt.