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Tax breaks for fundraisers

Business, Deductions, IRS, Nonprofit, Tax Credit, Taxes

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Questions and Answers

Question: Can I deduct a donation made to a GoFundMe fundraiser?

Answer: Probably not. Charitable donations made to a personal GoFundMe page are generally treated as personal gifts and aren’t tax-deductible. This includes amounts designed to benefit a single individual or group. However, donations made to certain specified GoFundMe charity fundraisers can be deducted if you itemize. A third-party partner, PayPal, provides automatic tax receipts. Donations to these fundraisers are collected by the nonprofit PayPal Giving Fund and are doled out to the designated charity.[/vc_column_text][us_image image=”3503″][/vc_column][/vc_row]