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New Yorker To Sell Bonds' Record Home Run Ball In Online Auction

Publication Date: 
August 22, 2007
Source: 
San Francisco Chronicle
Author: 
Demian Bulwa

Professor Joseph Bankman is quoted by the San Francisco Chronicle about the tax situation arising from the sale of Barry Bond's record-breaking 756th home run ball.

Stanford law Professor Joseph Bankman called the prospect of Murphy being taxed before sale "almost an urban legend."

"When an ordinary person," he said, "finds something that is valuable but not very liquid, and is hard to get the exact value of, we don't tax that person until sale."