Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
aralinde1
New Member

My daughter was in an accident and a go fund me account was started for her last year. Does she have to claim the money from the go fund me account as income?

the amount that was raised was $6,248 of which she received $5,724.53

1 Best answer

Accepted Solutions
MaryK1
Level 9

My daughter was in an accident and a go fund me account was started for her last year. Does she have to claim the money from the go fund me account as income?

No, if she received the money as gifts and used the money for her medical and/or living expenses.  It would be taxable if she exchanged something (other than good acts or gratitude)- like services or goods

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

View solution in original post

1 Reply
MaryK1
Level 9

My daughter was in an accident and a go fund me account was started for her last year. Does she have to claim the money from the go fund me account as income?

No, if she received the money as gifts and used the money for her medical and/or living expenses.  It would be taxable if she exchanged something (other than good acts or gratitude)- like services or goods

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

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v