Tax I.txt

If you find cash, it's included as ordinary income in the year you found it. (piano)

If someone pays your tax due, that pmt should be included in your gross income.

Punitive damages qualify as income

House transferred to company owned by Dean due to financial distress. FMV of rent to be included as income.

gift is given out of detached and disinterested generosity due to affection, respect, admiration, charity, or like impulses.

generally excludable form gross income.

generally includable in gross income. Except for traditional retirement gifts and certain employee awards which can be excluded. De minimis fringes are also excludable.

excludable from gross income

At no addt�l cost to employer

Services� 20% of orig price; Property� profit margin (sales price � cost)/sales price

Would be deductible by employee if employee paid themselves

So small, administratively impractible to track (personal use of copier)

Transit pass, token, fare card

Would be deductible b employee if paid themselves

Retirement planning advice offered by employer

On premises athletic facilities

Excluded if on the premises and for the convenience of the employer

Excluded if required as a condition of employment, on the premises, for convenience of employer

exlusion up to 250/500k, must live in 2 of last 5 years, allowed once every 2 years

Use pro-rata calc if forced to move due to 1. change of employment 2. health reasons 3. unforseen circumstances (see regs)

total non-qual use/total period of ownership * gain = percentage of gain that is taxable

Excludable if bona fide resident for entire taxable year, or present in foreign country for 330 days of the preceeding 12 months. $91,500 max exclusion

Excludable if paid by employer, deductible if you pay, only one house (unless dangerous conditions), $27,450 max.

generally included as gross income