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Old 06-08-2005, 07:52 PM
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Join Date: Jun 2003
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Gift Taxing

What is the name of your state? Tennessee

I'm setting up a website to accept donations for a friend who has cancer. I would imagine I can avoid the gift tax, since any money over 11K will go to the american cancer society.

my question is, do i have to report the donations as income, and they will be going directly to my paypal account, and I will disburse them.

we don't really have the resources to set up a non-profit...
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Old 06-08-2005, 10:06 PM
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Join Date: Aug 2003
Posts: 1,848
You can set up an account in his name. That way all the "gifts" go directly to him. Much simpler, and the $11,000 won't be an issue unless it comes from a single donor, who will then have to file a gift return.

Snipes
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This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post.
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