dealsqueezer
Junior Member
- Dec 28, 2004
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Originally posted by: bigpow
Thanks, but no thanks.
I'll take the $200 cash offer instead (only $1,500 min. balance for a year)
This $200 will be treated like interest income.
So you actually get $200 - interest incom tax($200), say roughly $150
If you buy iPod with this money you pay extra $100 + sale tax ($21 in California) out of pocket
But do we need to report iPod as a 'Gift received' item in your 2005 tax return?