Crowdfunding, on sites like GoFundMe, has become a popular way to raise money virtually.
But, do you know when the IRS gets involved? And how do you know what gifts, if any, are taxable? We’ve got an explanation.
Learn more in the video report above.
More information from the IRS: Money received through ‘crowdfunding’ may be taxable; taxpayers should understand their obligations and the benefits of good recordkeeping
More tips: Money Minute section
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