personal fundraiser help

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tdamess

Very helpful member
Joined
Jul 29, 2009
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1,297
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Loved one DX
Diagnosis
07/2009
Country
US
State
ma.
City
halifax
i would like to have a personal fund raiser for my son but , would like to give the people who donate a tax deduction but can only find info on organizations , would anyone know about this in the u.s. the i.r.s. don't talk on the phone but you can go in to their office but i also would like to have a clue as to what i may be able to do and it is beginning to sound like it is not able to be done for personal ones . i think that would be so unfair to the person who is giving money to help someone
 
According to a CPA I talked to, it's not possible for those donations to be tax deductible for the donor since it is going to an individual... which is exactly what I expected. And actually he indicated its much preferred to refer to these things as "gifts" instead of donations to avoid any potential problems with tax stuff and misunderstandings for the donors.

As a related piece of information, he also told me that it is not considered taxable income for the recipient of the gifts. There was an upper limit as to how much any individual can gift to someone else, but it was something like $10,000 or more.

Brian
 
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