Candidate Feldman ran for Congress in 2020, raising $4.7 million for the campaign, including $800,000 in federal

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Candidate Feldman ran for Congress in 2020, raising $4.7 million for the campaign, including $800,000 in federal matching amounts. Five months after his opponent was sworn into office, auditors discovered that Feldman 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: 9780357366387

12th Edition

Authors: Roby Sawyers, Steven Gill

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