The Corner

Expensive Gifts

Some may have thought Oprah’s decision to give new cars to her studio audience was a grand gesture, but the IRS sees a taxable event. The recipients must treat their new cars as income, which could mean a tax bill of up to $7,000.

Jonathan H. Adler — Mr. Adler is an NRO contributing editor and the inaugural Johan Verheij Memorial Professor of Law at Case Western Reserve University School of Law. His latest book is Marijuana Federalism: Uncle Sam and Mary Jane.

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