Given that the federal government is in the business of giving out tax breaks to billionaire bankers and investors, surely it can give a much smaller tax break to the Yankee fan who caught Jeter’s 3000th hit.
“The legal question of whether it is a gift or prize is whether the transferor is giving the property out of detached and disinterested generosity,” Professor Graetz said. “It’s hard for me, not being a Yankee fan, to think of the Yankees as being in the business of exercising generosity to others, but there’s a reasonable case to be made that these were given out of generosity.”
via Fan May Owe Taxes For Claiming Jeter’s 3,000th Hit – NYTimes.com.
Truth and Traditions 
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