topic Opening a go fund me for someone outside of the country in Get your taxes done using TurboTax

Opening a go fund me for someone outside of the country

Celsojim — Mon, 08 Mar 2021 21:17:51 GMT

Hello and thank you all for any help. Basically want to open a go fund me in the United States for someone outside of the country . The amount we are looking for is 1400 dollars . So since I have to put my bank info and ssn I’m wondering will I have to report this money or do anything at all for this next tax season . I don’t want to have to deal with anything at all regarding this .

Re: Opening a go fund me for someone outside of the country

Irene2805 — Mon, 08 Mar 2021 21:36:55 GMT

In general, GoFundMe contributions are considered "personal gifts" and therefore are not taxed as income.

For more information, please see Taxes for Organizers on the GoFundMe website.

Re: Opening a go fund me for someone outside of the country

Celsojim — Mon, 08 Mar 2021 23:54:05 GMT

Thank you thank you . So I shouldn’t be receiving any documents or have to report anything to the irs if the amount raised for the person is 1400 dollars

Re: Opening a go fund me for someone outside of the country

ToddL99 — Tue, 09 Mar 2021 15:50:03 GMT

You should not be receiving any tax documents from GoFundMe or have to report the donations on your tax return.

@Irene2805 is correct - GoFundMe contributions are considered "personal gifts" and therefore are not taxed as income.