Monthly Archives: April 2015


Cancer survivor gets $19,000 tax bill for GoFundMe donations | TaxPro Info

Source: Cancer survivor gets $19,000 tax bill for GoFundMe donations | TaxPro Info

Charitable donations. One of my favorite tax topics ever. The single most important thing to remember is that if you take the standard deduction as opposed to itemizing, you cannot deduct your charitable contributions. The second most important thing to remember is that your donation must be to a 501(c)(3) charitable organization (and they will almost always give you proper receipt or acknowledgment letter).

This article shows, however, that there are financial issues for the recipients as well as the donors in certain circumstances. The income you get from your most worthy GoFundMe or KickStarter campaign is considered taxable income by the IRS.