Question

How do I report income from donations?

Forum|Forum|6 years ago
June 6, 2019
1 reply
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I raised money on behalf of someone in the 2016 tax period- about $2000. I don't see anywhere to report this in the tax return. Please help. Thank you.

TurboTax Deluxe Online

M

MichaelMc

Employee

Money received from donors through a GoFundMe account (or similar fundraising mechanisms) is generally considered a personal gift and is not reportable as taxable income.

If the money was intended to cover medical expenses related to a catastrophic illness or injury, or for some other personal emergency, you would be well-advised to keep records of the amounts received and the corresponding disbursements for those expenses.

Here is a link to some information directly from the GoFundMe website: GoFundMe - Am I responsible for taxes?