To clarify the income and gift tax consequences of catching and returning record home run baseballs.

Summary

Provides, with respect to a home run ball hit during the 1998 baseball season by a batter who hit at least 61 home runs during such season, that: (1) no amount shall be included in the gross income of the person recovering such a ball for purposes of subtitle A (Income Taxes) of the Internal Revenue Code; and (2) any gift of such a ball to the batter by the person recovering such a ball shall not be treated as a gift for purposes of subtitle B (Estate and Gift Taxes) of the Internal Revenue Code.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 9 September 1998

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• Introduced in House (PDF)

  Introduced in House · EN · 9 September 1998

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• Introduced in House

  summary · EN · 9 September 1998

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