@EJNich1 wrote:
Our company was sold to new owners and our previous owner distributed the profit of that sale to its employees. So it was considered a bonus gift
Yes, that sounds like it would be fully taxable as compensation of sorts rather than an actual gift.
The funny thing is there is a case almost exactly on point with your scenario and with exactly the same dollar amount.
See https://irstaxtrouble.com/is-a-gift-to-a-former-employee-taxable/
