I am starting a GoFundMe page for helping a friend pay for their expensive medical treatment. The expensive medical treatment will be approximately $10,000. My friend would receive all of the $10,000. Will I have to pay taxes on the $10,000? Will GoFundMe send me any tax forms? What type of income will this $10,000 be reported as on my personal income tax return? Will my friend have to pay taxes on the $10,000? Will GoFundMe send my friend any tax forms? What type of income will this $10,000 be reported as on my friend's personal income tax return? If anyone could please provide any tax advice then I would greatly appreciate it. Please answer all my questions soon.
