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Social Security to take disabled woman’s money after fund-raiser sends her to a baseball game
Q13Fox
| 12/5/16
| Tribune Media
Posted on 12/05/2016 12:40:01 PM PST by 198ml
click here to read article
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To: IYAS9YAS
41
posted on
12/06/2016 5:22:36 AM PST
by
AppyPappy
(If you really want to irritate someone, point out something obvious they are trying hard to ignore.)
To: AppyPappy
If someone gives you money, that’s income.No, if the money/ticket was given as a gift, which in this case it was, then it is a gift, and is not taxable under IRS rules. The only thing addressed in your link would be prizes/awards, and that's for entering contests (something for something). This was purely a gift.
https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes#2
If the value of the gift exceeds a certain amount from any one donor, then the donor would be responsible for paying a gift tax, but the recipient would not.
42
posted on
12/06/2016 5:57:12 AM PST
by
IYAS9YAS
(An' Tommy ain't a bloomin' fool - you bet that Tommy sees! - Kipling)
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