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Level 1
June 3, 2019
Question

Are proceeds from a Go Fund Me account tax deductible? If yes, hasn't the money already been taxed?

  • June 3, 2019
  • 1 reply
  • 21 views
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1 reply

Kat11_2
Alumni - Champ
Alumni - Champ
June 3, 2019

Funds received through a GoFundMe campaign are considered gifts.  As such, they are not taxable income.

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***