Are recipients of charitable donations taxed on the donation and if so, how? Is it on the 1040?

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Are recipients of charitable donations taxed on the donation and if so, how? Is it on the 1040?

2006-08-15 07:48:33 · 2 answers · asked by septsecret 2 in Business & Finance ➔ Taxes ➔ United States

2 answers

If you're talking about a registered charity - no, they're not taxed, and they file a 990, not a 1040.

If you're talking about a regular person who gets a gift from someone, the recipient isn't taxed. Depending on the size of the gift, the giver might be responsible to pay a gift tax.

2006-08-15 08:01:27 · answer #1 · answered by Judy 7 · 1⤊ 0⤋

no, not taxed. Can be claimed on a 1040, but not the 1040ez

2006-08-15 14:54:06 · answer #2 · answered by IMP 2 · 0⤊ 1⤋