TaxGuyBill
Level 15
01-23-2023
11:22 AM
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@Tiffany4 wrote:
Has it been determined now that MCTR is going to be taxable Fed income? Last I read, it was going to be considered a gift. Did IRS give guidance on this?
It is not a "gift"; however, many tax professionals think it is non-taxable. The IRS has not made any direct statements about it.
https://www.taxprotalk.com/forums/viewtopic.php?f=8&t=27184
