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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Little Joe who wrote (126580)	2/11/2001 8:05:59 PM
From: TimbaBear	Respond to of 769667

According to the IRS you are not absolutely correct. "Gifts and inheritances. Generally, property you receive as a gift, bequest, or inheritance is not included in your income. However, if property you receive this way later produces income such as interest, dividends, or rents, that income is taxable to you. If property is given to a trust and the income from it is paid, credited, or distributed to you, that income is also taxable to you. If the gift, bequest, or inheritance is the income from the property, that income is taxable to you. irs.ustreas.gov It's wonderful to be positive, but better to be accurate. It looks like both of us were off on this issue.