Benefit income?

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  • Bjay
    Junior Member
    • Feb 2013
    • 12

    #1

    Benefit income?

    I have a client who has a daughter that was injured and a benefit was held in their community to raise funds for help with medical expenses? Is this income reported as other income? I can't find anything in any reference book!
  • JohnH
    Senior Member
    • Apr 2007
    • 5339

    #2
    It's a gift from the donors to the recipient.
    No tax deduction for the donors and not income to the recipient.
    "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

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    • Burke
      Senior Member
      • Jan 2008
      • 7068

      #3
      And the TP would still be able to deduct the medical expenses as well.

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