Just wondering, for the milliondollarhomepage guy, does he get taxed at all? Or was it considered "donation"?

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2007-08-03 05:46:03 · 3 answers · asked by Herman W 1 in Business & Finance ➔ Taxes ➔ United States

It's fully taxable. Income or gain from barter or exchange is fully taxable as if it was received in cash.

2007-08-03 06:19:16 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋

He gets taxed.

He would have to be registered as a non-profit or some other tax exemption, just saying donation does not free you from taxes.

2007-08-03 05:50:57 · answer #2 · answered by Boo 3 · 0⤊ 0⤋

Even if it was "donation" it would still be taxable unless he set himself up as a non-profit, which I doubt he would qualify.

2007-08-03 05:51:29 · answer #3 · answered by Don 5 · 2⤊ 0⤋