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Is A Cash Gift Considered Unearned Income? [Solved]
Essentially any sum of money or property you receive without working for it is considered a form of unearned income. If someone gives you a gift of cash or property, the gift is unearned income, though any tax on gifts is paid by the person giving the gift, not the person receiving it.
Unearned Revenue
This video explains what
What are examples of unearned income?
01:16 - What qualifies as
Accounting for Gift Cards
Accounting for
