Homework Clinic

Social Science Clinic => Accounting => Topic started by: Shelles on Sep 13, 2020

Title: James and Colleen have reached an agreement with Kelsey in which she will give birth to a baby and ...
Post by: Shelles on Sep 13, 2020

James and Colleen have reached an agreement with Kelsey in which she will give birth to a baby and then give the baby to James and Colleen.  In return, James and Colleen will pay Kelsey $40,000 cash and pay for her medical expenses.  What tax issues should Kelsey consider?

Title: James and Colleen have reached an agreement with Kelsey in which she will give birth to a baby and ...
Post by: l.stuut on Sep 13, 2020

Are the receipt of the cash fee and the payment of medical expenses income to Kelsey?