Research Problem 1. On August 4, 2010, Alex Rodriguez hit his 600th home run into the security
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Research Problem 1. On August 4, 2010, Alex Rodriguez hit his 600th home run into the security netting at Yankee Stadium. A security guard at Yankee Stadium named Frankie Babilonia retrieved the ball and gave it to Rodriguez. Frankie in return received a signed baseball bat (worth about $600) from Rodriguez. Assume that the baseball is worth
$125,000 but cost only $8. Are there any compensation tax aspects? Provide authority.
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Related Book For 
South-Western Federal Taxation 2014 Corporations Partnerships Estates And Trusts
ISBN: 9781285424484
37th Edition
Authors: William H. Hoffman Jr., William A. Raabe, James E. Smith, David M. Maloney, James C. Young
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