Oprah is a cash basis taxpayer who is employed in the publishing industry. This year her employer
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Question:
Oprah is a cash basis taxpayer who is employed in the publishing industry. This year her employer informed her that because of her outstanding performance she is entitled to a free world cruise. Oprah asked her employer to issue the cruise tickets to her parents, and the complied with this request. Identify the principle that will determine whether Oprah or her parents are taxed on the value of the cruise ticket.
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