- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
It depends. This type of fundraiser can generally be considered a gift as long as no benefit was received in exchange for the funds.
Here is an article that addresses these types of transactions: Crowd Funding
Your daughter should be sure to maintain records that these funds were gifted to your son's family and she does not need to report the 1099K on her return.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 28, 2020
5:41 PM