Do I have to pay taxes on donations I receive through a personal fundraiser on Instagram?
Funds received from personal fundraisers may be taxable.
Things that may impact if the money you received is taxable include:
- The amount of funds received
- What you intend to use the funds for
- Where you live
Consult a tax professional for questions about whether the donations you received are taxable.
Note: If you raise more than $20,000 in donations from personal fundraisers on Instagram in a year, you’ll receive a 1099 form from Stripe. Learn more about Stripe, the company that processes payments for personal fundraisers on Instagram.
- How do I start or donate to a fundraiser on Instagram Live?
- How do I donate to a personal or nonprofit fundraiser on Instagram?
- How do I report a personal fundraiser on Instagram?
- How do I start a personal fundraiser on Instagram?
- How do I get a receipt for my donation made on Instagram Stories or Live?