To: SouthernBoyupNorth
Its a gift. I think it may have to be reported as income.
To: chopperman
Its a gift. I think it may have to be reported as income. I know it's a gift. The coach knows. The cook knows. You know. To the IRS, it's a sale. They each received something of value, so it was a sale. No profit or taxable income on either side.
12 posted on
08/04/2011 10:54:43 AM PDT by
Pollster1
(Natural born citizen of the USA, with the birth certificate to prove it)
To: chopperman
It is not a gift, $20.00 cash was paid for it.
13 posted on
08/04/2011 10:56:11 AM PDT by
sniper63
(Ever wonder why they call themselves Hamas, but don't eat pork?)
To: chopperman
Its a gift. I think it may have to be reported as income. The gift tax is on the giver, not the receiver.
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