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posted May 15, 2021 10:53:02 AM

How do I report income that I received in the form of a donation from a 501c3 charity?

How do I report income that I received in the form of a one-time donation from a 501c3 charity?

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4 Replies
Expert Alumni
May 15, 2021 11:03:50 AM

Charitable gifts (to you) are not considered income - you do not need to report them.

Level 2
Feb 18, 2022 5:03:18 PM

Just curious if there is an IRS document I can skim to help verify that a 'normal' 501c gift is not included as income?  I was alerted to Publication 3833 (Rev. 12-2014) (irs.gov) concerning 501c3 gifts received for disaster relief, but I can't see how it addresses gifts that were never intended to be considered disaster relief.  Can't gifts be received for other than disaster relief?  

Thanks!

Expert Alumni
Feb 18, 2022 5:38:58 PM

Gifts are never taxable to the person receiving the gift. 

 

The person that gives the gift MAY need to file Form 709, but that is only if that person gifted more than their limit.

 

The value or basis of the gift can be an issue if it is something that might later be sold at a profit or loss, but cash does not have that problem.

 

"Generally, the following gifts are not taxable gifts.

  1. Gifts that are not more than the annual exclusion for the calendar year.
  2. Tuition or medical expenses you pay for someone (the educational and medical exclusions).
  3. Gifts to your spouse.
  4. Gifts to a political organization for its use."

IRS LINK

 

 

"Question

My mother transferred the title of her home to me. Do I need to report this transaction to the IRS?

Answer

No, but your mother may be required to report this transaction"

Level 2
Feb 18, 2022 5:42:13 PM

Thank you!