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Gowns Could Have Hidden Price Tag for Reagan Wardrobe
IRS might treat designer gowns donated to Nancy Reagan as taxable income for the first family. Tax lawyers say the clothing could be income in kind since designers seek publicity from her appearances. Officials note gifts are tax-free only if given with disinterested generosity.
MENTIONED IN THIS ARTICLE
Washington
Nancy Reagan
Internal Revenue Service
Reagan
Mrs. Reagan
Reagans
Sheila Tate
Associated Press
Sheldon Cohen