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[quote=Anonymous][quote=Anonymous]If you [b][i]volunteer [/i][/b]your time to privately help twenty students for SAT/ACT prep and they all perform exceptionally well on the exam, and their parents give you a gift of $19,000 each—totaling $380,000—do you need to pay taxes on that $380,000?[/quote] I think you would have a very hard time proving that wasn’t earned income for a service performed. So you probably owe self-employment tax on that. [/quote]
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