Thoughts?
I agree it's a grey area. So grey in fact, that I would fully expect it to do more than raise eyebrows and result in an audit from the IRS. I question weather or not you could prove your case and would fully expect you to lose. It's up to you to decide if the potential tax savings are worth the risk of losing and having to pay taxes on it, plus fines, penalties and late fees.
Look at it from the IRS perspective "as if" the IRS is paying you as an audit agent. Would you go for it and deny the exemption?
