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Vacation packages purchased for an auction
January 15, 2024
Q. We purchased several vacation packages from a company who specializes in this, to be used in a silent auction. Some of the packages were just for lodging and some included other items as well. Are these potentially reportable? As rent (especially if just lodging)? Or a service? Or should they be considered as an item/supply?
A.
(Answered by IOFM's third-party tax experts)
We haven't seen this addressed in IRS instructions, but suggest your company consider whether what you've described is a…
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