Monday, November 29, 2004
Last week's NBA near-riot involving Ron Artest (and several of his Indiana Pacer teamates) and courtside Detroit Pistons fans at The Palace of Auburn Hills provides some classroom fodder for the basic income tax class. Some Tax Profs show a film clip of former Piston bad boy Dennis Rodman kicking a courtside photographer to illustrate the tax treatment of the photographer's damage recovery in Amos v. Commissioner, T.C. Memo. 2003-329 (excluding $120,000 of $200,000 as damages received "on account of physical injuries" within the meaning of §104(a)(2)).
For further discussion of the tax consequences of the Rodman incident, see
- Daniel Posin & Donald Tobin's Blog
- Dennis Rodman and Settlement Proceeds: Are Confidentiality Taxable?
- Photographer Injured by NBA Star Loses Tax Fight
For the first in what promises to be a spate of lawsuits filed as a result of the melee, see here.