Ask Experts Questions for FREE Help !
Ask
    ldetray's Avatar
    ldetray Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Mar 27, 2013, 10:09 PM
    Are patient assistance funds from a drug company taxable?
    I take a very expensive prescription drug and the maker of the drug gives me financial assistance to pay my co-pays. Is this taxable?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Mar 27, 2013, 10:28 PM
    No, that is charitable giving pure and simple, and the recipient is NOT taxed on it.
    ldetray's Avatar
    ldetray Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Mar 28, 2013, 05:18 AM
    Thanks so much!
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Mar 28, 2013, 07:57 PM
    Glad to help!
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Where to get financial assistance for lung cancer patient [ 4 Answers ]

My sister was diagnosed with lung cancer in July of this year. I have looked everywhere to help her with rental assistance and daily living expences. Not much luck so far. She has applied for social security and medicade. I would think that it would be expidited in a situation like hers. She has a...

Is it true brightcove company for assistance [ 3 Answers ]

Brightcove Ltd. Natwest Bank Sort code: 607003 Account number: 50218808 Branch address: 121 High Street

Company pension contributions taxable for US citizens? [ 1 Answers ]

I've a company overseas that has employed a US citizen. We have been providing our other international staff with offshore pension contributions in lieu of salary for local tax purposes. As US citizens are never considered non resident will this have to be taken into consideration when my...

View more questions Search