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Money received FROM a 501c3

If a person receives money as a gift FROM a 501c3, is this amount reported as income? The amount was under $6,000. No 1099 was issued. It was not compensation for employment.

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3 Replies

Money received FROM a 501c3

A gift received is not reported on a tax return, regardless of the amount received.

MinhT1
Expert Alumni

Money received FROM a 501c3

If it is a gift then it is not taxable and not reportable on your tax return.

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RichbSD
New Member

Money received FROM a 501c3

As others have said, if it is a gift, then it is not considered income to you.

Where you have to be careful is if you made a donation to the 501c3, and wanted to deduct that as a charitable donation, you would first need to subtract the amount of the 501c3's gift to you

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