Friday, May 7, 2004

There was an interesting discussion today on the TaxProf Discussion Group about the tax issues raised in the NBC television show “Friends” finale last night. (OK, it is Friday and we will do anything to avoid having to grade another exam!). Ted Seto (Loyola-L.A.) flagged the most tax issues regarding Chandler, Joey, Monica, Phoebe, Rachel, and Ross:

1. Deductibility of Chandler and Monica’s surrogacy and adoption expenses.

2. Deductibility of Chandler’s and Monica’s moving expenses.

3. Deductibility of Rachel’s plane ticket as a moving or business expense, given that she ultimately decides not to take the new job in Paris.

4. Deductibility of loss due to destruction of Foosball table to rescue baby duck and chicken.

Cheyanna Jaffke (Western State) offers this additional thought: Monica and Chandler adopted twins. Prior to the birth of the twins, they supported the mother. So there is an issue of whether or not the mother can be a dependent. I don’t think that they would win that one, but could make for a nice discussion of what is a dependent.

Did TaxProf Blog readers notice other tax issues? Please email them in and we will expand this list as needed.