in November, Lansing Corporation provided a free-turkey or ham to every employee who asked for one. Do the employees who received a turkey of thath thave any tax conseguences? No, thecause these are holidsy gifts of nominal value. No, because these gifts are part of a quahifed plan. Yes, the fair market walue of the turkey or ham is added to the W.2 wages of each reciplent Ves, tecipients have to roport the fair market value of the turkey or ham as other income on their tax ceturns