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Sure. It is probably considered income to you but could be different based on the cause for which you were collecting the money. I assume that you are not a 503(c) registered Non-Profit Corporation who has been approved by the IRS. If not you probably would have to pay taxes on this money. In any case you really need to get professional tax assistance before proceeding as the ramification could be excessive.
Wiki User
∙ 8y ago
Wiki User
∙ 8y agoYou failed to mention your country in the question. Tax rules differ by country.
Generally, but in no way guaranteed, funds earned through GoFundMe are considered gifts, and therefore are not taxed as income in some places like the US. This is according to the GoFundMe Help Centre, which is linked below.
You should consider re-asking your question, mentioning your country of residence. As stated above, rules differ depending on geographic location.
Useful Links:
- GoFundMe Help Centre: Am I responsible for taxes?
- GoFundMe Help Centre: Is my donation tax-deductible?
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Do you need to file taxes if you did not work but received money from school?
IF the amount of the money that you received from the school is taxable income YES you should file a 1040 federal income tax return.
Can I file my taxes online and still get help if I need it?
You can file your taxes online at turbotax.com and get free tax help via chat and forums if you need it. This is how I file my taxes every year and I have never had a problem.
Do you have to file taxes if you are on disability and receive alimony?
You will have to file taxes to report the alimony. If you receive a form reporting the disability you will need to file this as well.
Do you need to file taxes if you had no income?
yes
You worked in another state and paid taxes in the state you worked in do you still need to file in Alabama?
You file in each State of residence...and any you make money in. The income is divided between them all.
File Your Taxes Where You Live?
You need to file your taxes where you live, not where you get your money from. For example, perhaps you live in Canada, but you make most of your sales to Europe. Do not worry about filing your taxes in Europe. That is the responsibility of the buyers. You need to get Canadian income tax software so that you can put in your paperwork in Canada. This is all that you need to do.
Do you need to file taxes if you did not work but received money from school?
IF the amount of the money that you received from the school is taxable income YES you should file a 1040 federal income tax return.
Can I file my taxes online and still get help if I need it?
You can file your taxes online at turbotax.com and get free tax help via chat and forums if you need it. This is how I file my taxes every year and I have never had a problem.
Does your child need to file taxes for their Social Security money?
A child who is a dependent and earns income must file a return if they earned the specified amount of money as mentioned on the income tax form.
Do you need to file taxes if you had no income?
yes
Do you have to file taxes if you are on disability and receive alimony?
You will have to file taxes to report the alimony. If you receive a form reporting the disability you will need to file this as well.
You made 1600.00 last year you are 18 years old do you need to file income taxes?
No you don't, it is considered hobby money unless you made $5,000 or more, then you DO have to file.
Does my teenager who babysits need to file taxes?
No. A teenager who babysits only needs to file taxes if it is over $600 they are making.
Why do you need to do your taxes?
Generally, you only need to file taxes if your income is above a sertain dollar amount.
Does a minor child need to file taxes with the state?
No.
Do you need to file taxes if you get a pension from the military?
Yes
I earned $945.00 working for my landlord and I need to know if I can file income taxes on this?
Yes you can file income taxes on $945.00 that you earned.
