Non-Cash Grants

[EAP]

Are these income? It was goods received that I am not claiming on anything so far - not sure if I need to put the cost of the goods as income? I never received any money just items for FCCERS.

[TomCopeland]

Grant

Are these income? It was goods received that I am not claiming on anything so far - not sure if I need to put the cost of the goods as income? I never received any money just items for FCCERS.

Yes, goods receive through a grant are taxable income. If you use the goods in your business you can deduct them using the normal rules of deductions.

See my article on this:http://www.tomcopelandblog.com/2013/...t-a-grant.html

[EAP]

Yes, goods receive through a grant are taxable income. If you use the goods in your business you can deduct them using the normal rules of deductions.

See my article on this:http://www.tomcopelandblog.com/2013/...t-a-grant.html

thank you!