KarenM90
Intuit Alumni

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.  

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