Tax Tip #190
Ralph Loggia • April 9, 2024
GoFundMe Donations
With a very small exception, donations made to GoFundMe do not meet the rules of Section 501 of the Internal Revenue Code. They are therefore considered personal gifts and are not payments that qualify for tax deductions.
The exception is a donation made to GoFundMe charity fundraisers.
Bonus tip on donations — with the presidential election coming up in November, political contributions are also not deductible.
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