Hello and thank you all for any help. Basically want to open a go fund me in the United States for someone outside of the country . The amount we are looking for is 1400 dollars . So since I have to put my bank info and ssn I’m wondering will I have to report this money or do anything at all for this next tax season . I don’t want to have to deal with anything at all regarding this .
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In general, GoFundMe contributions are considered "personal gifts" and therefore are not taxed as income.
For more information, please see Taxes for Organizers on the GoFundMe website.
Thank you thank you . So I shouldn’t be receiving any documents or have to report anything to the irs if the amount raised for the person is 1400 dollars
You should not be receiving any tax documents from GoFundMe or have to report the donations on your tax return.
@Irene2805 is correct - GoFundMe contributions are considered "personal gifts" and therefore are not taxed as income.
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