Tax ? About the donation page

[dbsk8dance]

I am blown away by the generosity of the boards to ZB and pixi. There has been such a huge outpouring of love and money.

Being MM, though, I was wondering if there are any tax implications for pixi and her family is regards to the monetary gifts? 20k is a lot of money!

[msmerymac]

The question has come up. I know each individual can receive $14k tax free each year. AFAIK, that means that Pixy, her husband, AND ZB could each claim $14k as a gift. But I also think that's FROM an individual. I don't know if the donations are seen as being from an individual or what.

I am NOT a tax expert, so hopefully someone else knows something.

[lys]

It is my understanding that No tax implications for the receiver of the gift - tax implications are for the giver if giving over a certain amount to one individual.

[dbsk8dance]

Ok. That's what I thought! Glad thAt all the money will go to help.