Gifts in a commercial context Flashcards
1
Q
Gifts in commercial context.
A
Duberstein it is a compensation ,not a gift 102 c
2
Q
When its not a gift must include..
A
have to include FMV as income 1.61 E 2
3
Q
If donee can exclude from income
A
done cant deduct on taxes
4
Q
Look to intent (totality of circ)
A
did transfer deduct or not?
5
Q
Father/Son & Employer/Employee Gift
A
Leg hist, 102 c, regs 1.102-1 Need to show it was given in family context.
