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A gift received from a financial institution for opening a bank account is not taxable income to the recipient. True False
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5 votes
A gift received from a financial institution for opening a bank account is not taxable income to the recipient. True False

User Djfm
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2 Answers

5 votes

Answer: False

Step-by-step explanation:

the fair market value of gifts or services a taxpayer receives for opening a bank account is taxable income.

User Jan Garaj
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3.4k points
3 votes

Answer: False

Step-by-step explanation:

It a taxable income

User Renat Gatin
by
3.4k points
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