FPP porsche- taxable?

[Russ Fox]

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