Surprising Tax Bill: Fan who caught Jeter’s 3000th hit may be facing tax liability
When doing the right thing can cost you thousands in taxes
Christian Lopez, the Yankee’s fan who caught Derek Jeter’s 3,000th hit, could be facing a five-figure tax bill thanks to the reward the New York Yankees gave him for returning the ball to Jeter.
The 23-year-old Lopez received tickets to the game as a birthday gift from his girlfriend. The Yankees fan said he suspected something big was going to happen at the game but didn’t realize he’d become part of history. After catching the record-breaking ball, Lopez announced that he intended to return the ball to Jeter, sending the crowd wild with cheers.
To show their gratitude, the Yankees presented Lopez with luxury suite tickets for every remaining home game and any postseason games the Yankees may play, along with three bats, three balls and two jerseys, all signed by Jeter.
When the IRS caught wind of the compensation the Yankee fan received, they estimated that Lopez would be responsible for $5,000 to $13,000 in prize taxes.
Lopez says he does not intend to return the season tickets and was quoted saying, “The IRS has a job to do, so I’m not going to hold it against them, but it would be cool if they helped me out a little on this.”
It’s up for debate whether the Yankees gave Lopez the items as an act of generosity or as an exchange for goods. What do you think about the situation? Is the IRS being unreasonable?
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