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Even if he does not sell the ball, Murphy would still owe the taxes based on a reasonable estimate of its value, according to Barrie. Capital gains taxes also could be levied in the future as the ball gains value, he said.
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Thanks for posting that info, Gary. I also think that is BS, but it doesn't surprise me with out tax-happy government. By the same token, we, as taxpayers, should also be able to claim a deduction based on losses for all those games we attended in which we
didn't catch a milestone homerun ball. I've spent a lot of money on baseball tickets and have yet to catch a milestone ball!
