Cohousing-L Mailing List: Taxes on gifts/bequests to community

[Fred-List manager (fholson]

Karolyn Mangeot, Elderberry Cohousing, richard.mangeot [at] usa.net
is the author of the message below.  It was posted by Fred of
the Cohousing-L management team <cohousing-l-owner [at] cohousing.org>

--------------------  FORWARDED MESSAGE FOLLOWS --------------------

Several of our current members intend to leave a bequest or their unit
to our POA.  And we have had members give money for special projects.
Has anyone (HOA/POA) received such a bequest or any sizable (>$1000)
gift?  How did your treasurer/accountant handle it?  Did you have to
pay taxes on it?

Karolyn Mangeot
Elderberry Cohousing
richard.mangeot [at] usa.net