Quote:
Originally Posted by Bobblehead
The taxation sounds like BS.
If it were true then the value would need to be estimated every year and he could take a gain or loss on it accordingly.
Every person holding stocks would need to declare the value every year.
That whole idea doesn't wash.
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I actually heard this on a sports talk show (might've PTI) a few days ago. Apparently, the US government can assign value to something of this nature and charge taxes on it - similar in a way to how they charge taxes on lottery winnings (i.e. - charging taxes on found money basically and catching that ball is basically like finding money in their eyes). The whole concept of taxing a baseball perceived to be $XX in the government's eyes is totally stupid IMO but they apparently can/will do it.