In October 2017, a couplecreated a GoFundMe pagefor a homeless veteran and concocted a heartwarming, but false story that resulted in more than 14,000 people donating more than $400,000. To keep yourself safe, be sure to vet charities before donating using something like theBBB Wise Giving ...
Money collected through crowdfunding campaigns can be considered nontaxable if it meets the IRS' definition of a gift.
If you set up a GoFundMe or another crowdfunded campaign, the money you earned could be considered a nontaxable gift — if you were mindful of the rules. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain ac...