We started a go fund me account for a family that lost husband (4 smaller kids) around $28000 raised all money went to family do we have to claim this?

tmdwisdom · ‎June 5, 2019

MaryK1 · ‎June 5, 2019

No, not if it was all given to the family with no expectation of exchange. For tax purposes, every contributor gave a GIFT so it is not taxable to the recipient. (If it is not a qualified charity, the donors cannot deduct the gift as a charitable contribution)

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MaryK1 · ‎June 5, 2019

No, not if it was all given to the family with no expectation of exchange. For tax purposes, every contributor gave a GIFT so it is not taxable to the recipient. (If it is not a qualified charity, the donors cannot deduct the gift as a charitable contribution)

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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We started a go fund me account for a family that lost husband (4 smaller kids) around $28000 raised all money went to family do we have to claim this?