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New Member
posted Jun 5, 2019 11:42:05 AM

How do I report income from gofundme donations?

0 3 1998
3 Replies
Level 7
Jun 5, 2019 11:42:07 AM

Recipients of GoFundMe contributions do not include those contributions in their Federal income tax return.  They are considered gifts and gifts are not taxable income.

New Member
Mar 23, 2023 12:29:52 PM

Is the gift/donation from GoFundMe considered non-taxable no matter the amount? What if it is greater than $20,000?

Level 15
Mar 23, 2023 12:32:23 PM


@elbar75 wrote:

Is the gift/donation from GoFundMe considered non-taxable no matter the amount? What if it is greater than $20,000?


Gifts received are never entered on a tax return regardless of the amount of gift received.