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Is the Thomas Fire Relief Fund taxable?
A taxpayer I work with was a victim of the California Wildfire, and he received a check from the Thomas Fire Relief Fund in 2018.
Is this relief money taxable?
If it is, how do I enter it into Lacerte?
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Based on the information available on the following website, this was organized by United Way, a §503(c)(3) charity, and the disbursements are need-based disaster relief grants to individuals of a charitable class. If that is the case, the amount received by your client would generally constitute a gift (provided no service was rendered in exchange) and not taxable as income to your client.
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