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.
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.
--------------------------------------------------------------------------------- Still an AllStar
0
Cheers
You are leaving Intuit Accountants Community.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.
