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Get your taxes done using TurboTax
@bchu3 it is quite unlikely you or the recipient would receive any tax forms as a result of gifts on GoFundME.
Gifts to friends are not reported on an income tax return - and that is the recipient or the donor.
if the recipient is a non-profit, they must send you a reciept for the gift and that document supports the contribution should you itemize.
Gofundme isn't a third party payment platform (like VENMO), so they wouldn't be issuing 1099-Ks.
Suggest you ask your questions to GoFundMe directly. Interesting, there is no mention of tax reporting on their website under FAQs.
‎October 17, 2023
1:12 AM