Comments on: Surprising Things That Count as Taxable Income

By: Jake T.

Jake T. — Wed, 16 Feb 2011 15:22:12 +0000

I’ve been looking for some clarification on “gambling income”. If you win a good sum of money (let’s assume $10K to satisfy any thresholds) in an office or friends football pool, is that considered gambling income and therefore taxable?

By: Warren

Warren — Thu, 27 Jan 2011 04:01:38 +0000

If I give my parent a house or a car, do those count as their income?

By: 41 Blog Posts About Deductions You Might Never Think to Claim on Your Taxes

41 Blog Posts About Deductions You Might Never Think to Claim on Your Taxes — Wed, 20 Oct 2010 16:38:26 +0000

[...] Surprising Things That Count as Taxable Income – This post is a little different than the others but I thought it was still worth being included because it has some great info. [...]

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Thu, 26 Aug 2010 07:27:13 +0000

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The Tax Consequences of Lucky Breaks - NYTimes.com — Wed, 25 Aug 2010 19:33:15 +0000

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By: Financial Planning and Personal Investment Articles from Personal Finance Blogs | Personal Investment Management and Financial Planning Blog Directory

Tue, 27 Apr 2010 22:57:48 +0000

[...] DuPaix presents Surprising Things That Count as Taxable Income posted at My Dollar Plan, saying, “This takes a look at some things that people might not [...]

By: Brenda

Brenda — Fri, 16 Apr 2010 04:07:35 +0000

Thanks Jill!!! I will pass on the information.

By: Jan Phillips

Jan Phillips — Thu, 15 Apr 2010 12:48:36 +0000

my husband participated in a food test tasting at a university – they gave him a $20 Walmart gift card. is that taxable income?

By: Jill

Jill — Thu, 15 Apr 2010 04:05:34 +0000

Should caveat that I’m answering as best as I can with the info I have. People, check with your accountant if your situation has intricate details!

By: Jill

Jill — Thu, 15 Apr 2010 04:04:02 +0000

If it was issued in his name only, the whole thing should be classified as an inheritance. Not taxable to him, may be taxable to the dad’s estate if it was large (but if he only left his son $14k, unlikely).

The $7k he gives his brother would then be a gift from him to his bro, since the check was only made to him. Since under the gift tax annual exclusion, no tax for either one.

By: Brenda

Brenda — Thu, 15 Apr 2010 03:59:04 +0000

Jill, a co-worker`s husband received money from his deceased Dad`s bank account. it was $14,000. Is that a gift or inheritance? He has to split it with his brother,but the amount was issued to him via check.