How does this not become taxable income? My son was recently diagnosed with a form of leukemia (3/1/18) and some friends/family have been doing some fundraising. There is a gofundme account that has raised 28k so far, along with other direct donations and there are also two local fundraisers planned. I would guess total raised would end up 35k-40k. No single person has donated over 2k, so the total is a combination of many smaller gifts. I'm married and I believe we can collect 30k (15k each) that won't be considered taxable income? Do I set up separate checking account to track expenses related to this? Do living expense and monthly bills count? Do we set up some other type of checking account? Any suggestions on what should be so the money raised isn't taxable.
