Ms. X is an executive with GG Inc., an international business operation. She flies more than 150,000

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Ms. X is an executive with GG Inc., an international business operation. She flies more than 150,000 business miles each year and accumulates considerable frequent-flier points from the airlines. GG allows its employees to use their frequent-flier points for personal travel. In March, Ms. X used 100,000 points to obtain two first-class round-trip tickets to Paris, which she gave to her daughter as a wedding gift. The value of the tickets was $12,000.
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Principles Of Taxation For Business And Investment Planning 2019 Edition

ISBN: 9781260161472

22nd Edition

Authors: Sally Jones, Shelley C. Rhoades Catanach, Sandra R Callaghan

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