walesmaven Wrote:
-------------------------------------------------------
> dude,
> "Partnership" shop reporting really requires MSC
> blessing, since the second person needs to be
> subject to an ICA and acceptable to the MSC. Our
> colleague ibless and her brother, and some other
> couples, are doing similar things. Splitting the
> fees is not a "gift," since it will be taxable
> income, lol.
I always thought "partner" shopping was having two or more people perform shops under one ICA.
As for the taxation, he would be responsible for 100% of the tax burden if it was performed under his ICA. He could give a gift to his girlfriend of half the amount, but I doubt it would be enough for the IRS to fuss over.