Taxable Income for Alexis?
Posted: Tue Dec 31, 2013 1:55 am
Is the $70,000 taxable income or will it be treated as a gift? If it is not used for medical reasons, does it lose its gift status?More than 1,700 people have contributed more than $70,000 for Alexis Shapiro, of Cibolo, Texas, who weighs nearly 200 pounds and is gaining about 2 pounds a week because of a runaway condition called hypothalamic obesity.