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Do i need to claim funds raised donation from a fund raiser to help with medical expenses?

Forum|Forum|7 years ago
June 3, 2019
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Best answer by MaryK1

No, if you were the recipient, you would not have to report or pay tax on the income- it would be considered a gift which is not taxable to the recipient. Just be sure to keep the records of how much you received in case the IRS did ask..

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MaryK1

Employee

Were you the recipient of the funds or did you host the fundraiser?

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E

evanvanderwallAuthor

Great! so would I need to make sure to NOT deduct the medical expenses associated with the fundraiser? since the fundraiser paid for the expenses?

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evanvanderwallAuthor

I was the recipient, but hosted the fundraiser on youcaring.com

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MaryK1Answer

Employee

No, if you were the recipient, you would not have to report or pay tax on the income- it would be considered a gift which is not taxable to the recipient. Just be sure to keep the records of how much you received in case the IRS did ask..

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"