Do you ever receive a form 1099 for donations received from crowdfunding?

jwboykin · ‎June 3, 2019

ToddL · ‎June 3, 2019

It is possible you may receive a Form 1099-K - A campaign creator who collects over $20,000 and has 200 transactions in a year will receive a Form 1099-K, Payment Card and Third Party Network Transactions, reporting unadjusted gross revenues.

How that "income" is treated for tax purposes will depend on the purpose of the campaign.

See more at: Crowdfunding and income taxes

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ToddL · ‎June 3, 2019

It is possible you may receive a Form 1099-K - A campaign creator who collects over $20,000 and has 200 transactions in a year will receive a Form 1099-K, Payment Card and Third Party Network Transactions, reporting unadjusted gross revenues.

How that "income" is treated for tax purposes will depend on the purpose of the campaign.

See more at: Crowdfunding and income taxes