Revenue Ruling 83-130; 1983-2 C.B. 148 ISSUES What is the amount of gain recognized by an individual taxpayer on the sale of the taxpayer’s personal residence to a charitable organization that subsequently awards the house as a raffle prize under the circumstances described below? Has the taxpayer made any deductible charitable contribution under section 170 of the Internal Revenue Code...
Internal Revenue Code Section 61 (1954)
Gross Income Defined (a) General definition — Except as otherwise provided in this subtitle, gross income means all income from whatever source derived, including (but not limited to) the following items: Compensation for services, including fees, commissions, fringe benefits, and similar items; Gross income derived from business; Gains derived from dealings in property; Interest; Rents;...