Taxation Case
Would the results to the taxpayers in the Cesarini case be different if, instead of discovering $4,467 in old currency in the piano, they discovered that the piano, a Steinway, was the first Steinway piano ever built and it is worth $500,000?
The two cases are different.
In Steinway piano case, it is not taxable. Bargain purchase
Old currency, taxable
David:
Not taxable until at sale
Accretion to value, not treasure trove (tax codifications are different)
Winner attends the opening of a new department store. All persons attending are given free raffle tickets for a watch worth $200. Disregarding any possible application of I.R.C. 74, must Winner include anything within gross income when she wins the watch in the raffle?
Section 61 taxable
David:
Taxable Section 61
Employee has worked for Employers incorporated business for several years at a salary of $80,000 per year. Another company is attempting to hire Employee but Employer persuades Employee to agree to stay for at least two more years by giving Employee 2% of the companys stock, which is worth $100,000, and by buying Employees spouse a new car worth $30,000. How much income does Employee realize from these transactions?
$80,000+$100,000+$30,000
All is taxable.
这种情况和给Employee钱让他自己去买没区别。这些都属于gross income
David:
Taxable Not gifts
Insurance Adjuster refers clients to an auto repair firm that gives Adjuster a kickback (回扣) of 10% of billings on all referrals.
Does