Fansided

Derek Jeter owes $16K in taxes due to farewell gifts

By Bryan Rose

Jul 5, 2014; Minneapolis, MN, USA; Minnesota Twins second baseman Brian Dozier (2) presents the last second base ever used at the Metrodome as a retirement gift to New York Yankees shortstop Derek Jeter (2) before the game at Target Field. Mandatory Credit: Bruce Kluckhohn-USA TODAY Sports
Jul 5, 2014; Minneapolis, MN, USA; Minnesota Twins second baseman Brian Dozier (2) presents the last second base ever used at the Metrodome as a retirement gift to New York Yankees shortstop Derek Jeter (2) before the game at Target Field. Mandatory Credit: Bruce Kluckhohn-USA TODAY Sports /
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When Derek Jeter announced plans to retire from the New York Yankees, it’s likely he expected some fanfare. What he probably wasn’t expected was a season long farewell tour which included a gift (usually rather fancy) from the opposing team after Jeter had played his final series in the said stadium.

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Most of the gifts presented towards Derek Jeter were ‘custom’ in nature and each held some type of significance. Maybe it was the basket of crabs (make your own joke here) from the Baltimore Orioles or perhaps customized cowboy boots from the Houston Astros.

The gifts weren’t ever monetary in nature, though that doesn’t mean Derek Jeter is going to escape the tax man as according to the Chicago Tribune the New York Yankees shortstop will have to cough up $16,000 dollars in taxes on the gifts.

"Jeter, who was paid $12 million this season and more than $265 million in his career, will owe about $16,000 in state and federal taxes on the gifts, which included golf clubs, wine, vacation packages, two sets of cowboys boots and a kayak, according to Rob Raiola, a certified public accountant who specializes in sports and entertainment."

Of course, $16,000 bucks is essentially the equivalent of Derek Jeter playing two innings of baseball this season, so it’s not going to put much of a dent in his Scrooge McDuck vault of money. Still, it’s possible Jeter may have preferred to keep the cash in his pocket rather than being presented with some non-needed gifts.

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