- 3 -
received as a gift. A gift is a transfer that proceeds from a
"’detached and disinterested generosity,’ * * * out of affection,
respect, admiration, charity or like impulses." Commissioner v.
Duberstein, 363 U.S. 278, 285 (1960) (quoting Commissioner v.
LoBue, 351 U.S. 243, 246 (1956)). In this case, petitioner's
friends and family did not have an expectation of repayment or
economic benefit. Instead, petitioner's family and friends
transferred money to petitioner with a detached and disinterested
generosity and out of charity.
With respect to the earned income credit, petitioner had no
earned income, and, therefore, is not entitled to the earned
income credit.
Decision will be entered
for respondent.
Page: Previous 1 2 3
Last modified: May 25, 2011