bvc50721
New Member

I raised $22,729 in GOFUNDME account for my son who became paralyzed. I deposited this money in my savings account for future potential medical needs.Is this taxable?

Is the money I raised in the GOFUNDME account for my son taxable to me in  2016 since the money is  currently in my savings account but  will only be used in the future if medical expenses arise. so far no medical expenses were incurred..