Discussion:Taxablity of gift to defray legal expense

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Discussion Forum Index --> Tax Questions --> Taxablity of gift to defray legal expense

Mcpa (talk|edits) said:

2 July 2007
A client has paid a substantial amount of money in legal fees to defend his right to hold home concerts. A neighborhood foundation has offered to give him $10,000 to help defray legal fees already spent. Since this is a gift, I can't see that there are any tax ramifications to my client. Is there another issue I should be aware of?

Pegoo (talk|edits) said:

2 July 2007
As long as there are no strings attached, it's a gift.

TexCPA (talk|edits) said:

2 July 2007
I would also get a letter from the Neighborhood foundation as to the donation / gift.

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