Are GoFundMe payments taxable income

Name: Are GoFundMe payments taxable income
Duration: 42 s
Description: GoFundMe money is a gift so you don't owe taxes, but donors can't deduct it since it's not going to a nonprofit.

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Wondering if the money from your GoFundMe campaign counts as taxable income? TJ explains why those donations are treated as gifts—and clarifies whether the people contributing can claim a deduction on their end.

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