r/AskScienceFiction • u/WippitGuud When a problem comes along • 1d ago
[The Simpsons] Does Homer still own the Denver Broncos?
Curious if Homer got to retain his ownership of the team, considering who purchased it for him. Or if he sold it or something.
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u/GullibleSkill9168 1d ago
Presumably he owns them and uses the passive income to afford the various lawsuits against him and his family.
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u/MeaninglessGuy 1d ago
Not to mention the taxes on that PALACE of a house and LOBSTER FOR DINNER!!!!!!
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u/genericreddituser147 1d ago
I’d assume he sold the team. He wasn’t super excited about owning them and the family lives way beyond their means for the ensuing 20 something years.
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u/TombStoneFaro 1d ago
Huge gift tax, right? I think he wd have had to sell them if Larry Ellison/Scorpio did not also deal with IRS for Homer.
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u/big_sugi 1d ago
The giver owes the gift tax, not the recipient.
But if it was deemed compensation for employment, it’s income and therefore taxable as to the recipient.
I’m not a tax lawyer, so I’m not sure how it would be treated.
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u/FlashyChemical2231 1d ago
Nah; remember when Oprah gave everyone cars? They all ended up owning taxes on them.
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u/big_sugi 1d ago
That’s because they weren’t gifts. They were taxed as promotional prizes and therefore ordinary income.
The rule for gifts is exactly what I said. From the IRS:
“The donor is generally responsible for paying the gift tax. Under special arrangements the donee may agree to pay the tax instead. Please visit with your tax professional if you are considering this type of arrangement.”
https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes2
u/CaptainHunt It's a spectrum 1d ago
Same thing happens whenever people win cars on The Price Is Right. I’ve even heard that most of the big prizes and showcases go unclaimed because the winner has to pay the tax on it upfront.
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u/Sleepy_Heather 1d ago
It might explain why he never seems to run out of money. Maybe Marge has been secretly putting the money into a rainy day fund
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u/TheWardenDemonreach 1d ago
After Homer got them, they won the Super Bowl so someone asked the writers this and they commented something like Homer sold the team to Barney
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u/BatofZion 1d ago
I imagine Homer sold them right before they won a Super Bowl and thus went back to hanging from the rafters, whacking that lightbulb.
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u/Hot-Refrigerator6583 1d ago
No, he put them up as collateral before he and Ned got double-married.
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u/AberforthSpeck 23h ago
In the Simpsons Comic Homer met up with Frank Scorpio again, who asked him about the Broncos. Homer has a flash back to him gifting the team to Moe in order to clear his bar tab.
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