joshuabarksatlcs
Level 10

Code Section 102

(a) General rule

Gross income does not include the value of property acquired by gift, bequest, devise, or inheritance.

 

If the facts and circumstances are such that the funds received are in the nature of gifts, they not NOT taxable.  The usage (for medical expenses) is not relevant in this determination.  E.g.  if the funds are used for clothing or education, the receipts are still non taxable.. 


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