66. Candidate Feldman ran for Congress in 2008, raising $4.7 million for the campaign, including $800,000 in

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66. Candidate Feldman ran for Congress in 2008, raising $4.7 million for the campaign, including $800,000 in Federal matching amounts. Five months after his opponent had been sworn into office, auditors discovered that Feldman had used $500,000 of campaign donations for a personal vacation, taken immediately after the unsuccessful campaign. What are the tax consequences of this use of election funds?

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Federal Tax Research

ISBN: 9780324659658

8th Edition

Authors: William A. Raabe, Gerald E. Whittenburg, Debra L. Sanders

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