Here's my post ~ 225. Hve not seen anything else since then that makes me think differently.
But it's poss someone else here has other info or opinion.
Many ppl contributed ~ $114,000 thru an internet go-*advertiser censored*d-me.com-type site to be transferred to Shanesa, IIRC.
Is payment a person receives from a go-*advertiser censored*d-me-type entity subject to federal income tax?
Appears to be non-taxable to recipient, generally.
"Gifts and inheritances. In most cases, property you receive as a gift, bequest, or inheritance is not included in your income." bbm
from IRS Publication 525, www.irs.gov/pub/irs-pdf/p525.pdf page 31, re personal income tax.
From FAQs of a not-to-be-named-here funding site:
"What about taxes and stuff? "Unfortunately, we're unable to provide specific tax advice since everyone's situation is different. While this is no means a guarantee, most donations on GoF**dMe are simply considered to be 'personal gifts' which are not taxed as income in the US. Additionally, only donations made to a legally registered non-profit or charity may be considered eligible for donors to claim as a tax deduction. Again, every situation is different so please consult with a tax professional in your area."
^ http://www.gof**dme.com/questions?section=donations ^
BTW, if one person (instead of many people, like thru a funding site) makes a gift to someone ---
"Person receiving your gift or bequest. Generally, the person who receives your gift or bequest of property from your estate will not have to pay any federal gift tax or estate tax. Also, that person will not have to pay income tax on the value of the gift or inheritance received."
^ from http://www.irs.gov/uac/Publication-5...Administrators link to 'Publication 599 (HTML)"
In short, imo, Shanesa does not have to share this bounty w Uncle Sam.
Jm2cts and I may be wrong. As the IRS ^cautions^ please visit with your tax professional.
