Yes folks, when you win a car........

Yes folks, when you win a car........

Post by Bill Dee » Sat, 25 Sep 2004 04:09:43


   ...it's income and Uncle Sam wants his taxes.
 
 
 

Yes folks, when you win a car........

Post by winnar » Sat, 25 Sep 2004 04:14:22


Quote:
>    ...it's income and Uncle Sam wants his taxes.

 What did you win?

winnard

 
 
 

Yes folks, when you win a car........

Post by rich hammet » Sat, 25 Sep 2004 04:52:30

Min? suojelen sinua kaikelta, mit? ikin? keksitkin sanoa, winnard:

Quote:


>>    ...it's income and Uncle Sam wants his taxes.
>  What did you win?

He was in the Oprah audience.

rich
--
-to reply, it's hot not warm
+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+
\  Rich Hammett       http://home.hiwaay.net/~rhammett
/  "Better the pride that resides in a citizen of the world;
\   than the pride that divides
/                     when a colorful rag is unfurled."

 
 
 

Yes folks, when you win a car........

Post by Stev » Sat, 25 Sep 2004 05:08:50


-   ...it's income and Uncle Sam wants his taxes.

How come it isn't a gift, and GM owes a gift tax instead?

Steve

 
 
 

Yes folks, when you win a car........

Post by Jefferson N. Glapsk » Sat, 25 Sep 2004 06:46:46


Quote:
>    ...it's income and Uncle Sam wants his taxes.

No it isn't.

--
Jefferson N. Glapski
http://www.glapski.com

 
 
 

Yes folks, when you win a car........

Post by Bryan S. Slic » Sat, 25 Sep 2004 07:56:48


[Thu, 23 Sep 2004 21:46:46 GMT]


:>    ...it's income and Uncle Sam wants his taxes.
:
:No it isn't.

Yes, it is.

--
Bryan S. Slick, usenet at slick-family dot net

"To those who serve America, in any fashion,
 freedom has a flavor those who just sit by will never know."

 
 
 

Yes folks, when you win a car........

Post by Jefferson N. Glapsk » Sat, 25 Sep 2004 09:03:31



Quote:

> [Thu, 23 Sep 2004 21:46:46 GMT]



> :>    ...it's income and Uncle Sam wants his taxes.
> :
> :No it isn't.

> Yes, it is.

Not for me.

--
Jefferson N. Glapski
http://www.glapski.com

 
 
 

Yes folks, when you win a car........

Post by Jon Ensli » Sat, 25 Sep 2004 09:33:50

Quote:




>> [Thu, 23 Sep 2004 21:46:46 GMT]



>>>>    ...it's income and Uncle Sam wants his taxes.

>>> No it isn't.

>> Yes, it is.

> Not for me.

Are you saying you think Orpah is hawt???

Jon

 
 
 

Yes folks, when you win a car........

Post by Bill Dee » Sat, 25 Sep 2004 10:30:12

Quote:
>>>    ...it's income and Uncle Sam wants his taxes.

>>  What did you win?

>He was in the Oprah audience.

>rich

   I wish. I just think all of the whining is pretty funny.
 
 
 

Yes folks, when you win a car........

Post by Steve Cutche » Sat, 25 Sep 2004 10:41:52


Quote:

>    ...it's income and Uncle Sam wants his taxes.

Yup.  My sister won two cars and some other ***on Price is Right.
She sold one car back to the dealer and used the cash to play tax on
the cash and on the other car.
 
 
 

Yes folks, when you win a car........

Post by Jefferson N. Glapsk » Sat, 25 Sep 2004 10:53:15


Quote:




> >> [Thu, 23 Sep 2004 21:46:46 GMT]



> >>>>    ...it's income and Uncle Sam wants his taxes.

> >>> No it isn't.

> >> Yes, it is.

> > Not for me.

> Are you saying you think Orpah is hawt???

Power is an aphrodisiac. No, Janet Reno was a figurehead.

--
Jefferson N. Glapski
http://www.glapski.com

 
 
 

Yes folks, when you win a car........

Post by winnar » Sat, 25 Sep 2004 11:23:30


Quote:


> >    ...it's income and Uncle Sam wants his taxes.

> Yup.  My sister won two cars and some other ***on Price is Right.
> She sold one car back to the dealer and used the cash to play tax on
> the cash and on the other car.

 Did she spay and neuter her pets?

winnard

 
 
 

Yes folks, when you win a car........

Post by Denni » Sun, 26 Sep 2004 02:21:28


when they said:

Quote:


>-   ...it's income and Uncle Sam wants his taxes.

>How come it isn't a gift, and GM owes a gift tax instead?

>Steve

TANSTAAFL...

----

"education is the progressive discovery of our own ignorance" --Will Durant
"people who read the tabloids deserve to be lied to " Jerry Seinfeld
"If we don't have a sense of humor, we can't have a sense of perspective --Wayne Thiboux
"the glass is not only half full the first half was delicious" -- Me
To Reply:  Scrape off the end bits...

 
 
 

Yes folks, when you win a car........

Post by xyzz » Sun, 26 Sep 2004 02:39:17

Quote:



> -   ...it's income and Uncle Sam wants his taxes.

> How come it isn't a gift, and GM owes a gift tax instead?

The giver doesn't pay gift taxes, the receiver does.
 
 
 

Yes folks, when you win a car........

Post by Stev » Sun, 26 Sep 2004 04:05:41

-


-> -   ...it's income and Uncle Sam wants his taxes.
->
->
-> How come it isn't a gift, and GM owes a gift tax instead?
-
-The giver doesn't pay gift taxes, the receiver does.
-

According to TITLE 26 US Code, Subtitle B Chapter 12 Subchapter A Sec. 2502 (c),

        "The tax imposed by section 2501 shall be paid by the donor."

But still, the main question is, why is this income, and not a gift?

Steve