gift to a corporation taxable?


G

Gil Faver

is a gift given to a corporation taxable? This is a sportsman's
organization, but does not qualify for 501 status. So, if someone give a
gift (nondeductible to them) to the corporation, is it taxable to the
corporation?
 
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K

Katie

is a gift given to a corporation taxable?  This is a sportsman's
organization, but does not qualify for 501 status.  So, if someone give a
gift (nondeductible to them) to the corporation, is it taxable to the
corporation?

I don't see any reason why it would not be excluded, as long as the
contribution is truly a gift -- i.e., the donor receives/expects
nothing of value in return. Membership dues, for example, would be
taxable income to the organization.

Katie in San Diego
 

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