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To: palmer

If the amount is greater than $14K, yes.

https://blog.taxact.com/gift-tax-do-i-have-to-pay-gift-tax-when-someone-gives-me-money/


25 posted on 09/24/2018 5:48:21 AM PDT by Westbrook (Children do not divide your love, they multiply it)
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To: Westbrook

Nope, the $14k applies to a single giver in a calendar year. In generall all the gofundme income is tax free if the “Gifts result from “detached and disinterested generosity” and are often given out of “affection, respect, admiration, charity, or like impulses”” and no individual gift is more than $14k.


27 posted on 09/24/2018 5:58:24 AM PDT by palmer (...if we do not have strong families and strong values, then we will be weak and we will not survive)
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