Re: FPP porsche- taxable?
In almost all cases, gifts are not taxable to the recipient. (They can be subject to the Gift Tax and/or necessitate filing a Gift Tax return, but the Gift Tax and/or Gift Tax Returns are paid by/filed by the giver of a gift, not the recipient.)
Note that I am not saying that a Porsche redeemed with FPP is a gift....
-- Russ Fox
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