Money received from donors through a GoFundMe account is generally considered a personal gift and is not reportable as taxable income.
If the money was intended to cover medical expenses related to a catastrophic illness or injury, or for some other personal emergency, you would be well-advised to keep records of the amounts received and the corresponding disbursements for those expenses.
Here is a link to some information directly from the GoFundMe website: GoFundMe
- Am I responsible for taxes?
