hey HB

[Dis_Still_Mornin]

Donations on go fund me are considered personal gifts and therefore not taxable. Only time I would see it being an issue is if said gift > 14k. But I usually get my tax advise from internet nerds on eq emu forums so what do I know....

[Jib]

id say if you got less than 10k in donation dont file it

[Jenni D]

Hi soda and chewieee

Hope you are both well

[HippoNipple]

Some old fart that needs hearing aids isn't considered a qualified charity. It is not a tax break. This sounds like a couple people that know each other are giving money to some old dude because he can't afford a hearing aid. If that was considered a charity it would be too easy to manipulate.

What Mornin is referring to is your annual gift limit but you don't have to worry about that since going over will just cut into your $5.34 million lifetime gift tax exemption which you will never go over.

[Dis_Still_Mornin]

Originally Posted by HippoNipple [You must be logged in to view images. Log in or Register.]

Some old fart that needs hearing aids isn't considered a qualified charity. It is not a tax break. This sounds like a couple people that know each other are giving money to some old dude because he can't afford a hearing aid. If that was considered a charity it would be too easy to manipulate.

What Mornin is referring to is your annual gift limit but you don't have to worry about that since going over will just cut into your $5.34 million lifetime gift tax exemption which you will never go over.

From what I read. He was curious if his friend needs to pay tax for receiving the money. But I didn't read too close. Either way. Answer is no tax effect

[HippoNipple]

Originally Posted by Dis_Still_Mornin [You must be logged in to view images. Log in or Register.]

From what I read. He was curious if his friend needs to pay tax for receiving the money. But I didn't read too close. Either way. Answer is no tax effect

Oh... well yeah the person receiving never pays taxes, it only ever effects the person giving. I missed that.

[Tassador]

Delete thread and deport op imo.

[Clark]

Originally Posted by Tassador [You must be logged in to view images. Log in or Register.]

Delete thread and deport op imo.

lol

[Littlegyno 10.0]

goog riddence scumsucker.

[Infectious]

You break, you buy. Five dolla, give me now!