Discussion:Taxable income or not??
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Discussion Forum Index --> Basic Tax Questions --> Taxable income or not??
Discussion Forum Index --> Tax Questions --> Taxable income or not??
Nancyshoemake (talk|edits) said: | 29 January 2008 |
| I have a client that is a self-employed hair stylist. She received $8500 from the City she is employed since they were tearing down her building for a road. The individual that "handed her the check" said it would NOT be taxable. Of course, that is all she knows....
My question is how could this not be taxable since she received the money as a result of her business and obviously the inconvenience in relocating? She rents the space Any ideas? | |
Death&Taxes (talk|edits) said: | 29 January 2008 |
| Sec. 1033?? Was she renting? | |
Nancyshoemake (talk|edits) said: | 29 January 2008 |
| yes, she was renting... you are good! | |
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