Photo: Flickr/Bridget Samuels
Lakers forward Lamar Odom is suing the Internal Revenue Service for preventing him from taking tax deductions for $12,000 he spent in fines and $178,000 he spent getting himself in shape, Forbes reports.Odom believes the fines were imposed by the team and the NBA (his employer) so they aren’t the same as say, criminal fines or traffic violations, which are non-deductible.
He also attacked the IRS for not allowing him to deduct the money he needs to spend to “perform as a professional basketball player.”
The same argument might be made by NFL players who could think that fines for illegal hits are an “ordinary and necessary” expense.
Odom, a college dropout, will defend himself in court. He’s fighting tax bills that total $87,000, or about 1.6 per cent of his $8.2 million 2011 salary.
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