PayPal donations are very common over the web. Almost every site asks for donations. So, do they declare it? How do you go about it?
2007-06-05 14:52:58 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
If you mean a gift when you use the term "donation", you would not pay tax on a gift made to you. If someone is making a "donation" in return for a service or product you provided that is income to you.
2007-06-05 14:58:36 · answer #1 · answered by ? 6 · 0⤊ 0⤋
If you asked for the donations, it's taxable income to you. Begging income is not considered a gift and is taxable as ordinary income.
2007-06-05 21:38:21 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Donations? If they're gifts, the recipient doesn't have to report them.
2007-06-05 15:33:44 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
Please, before dealing with Paypal, you need to be aware that they are allowed to retain your money for a long period of time, Please be caretul.
http://www.paypalwarning.com
http://www.paypalsucks.com
2007-06-06 07:28:08 · answer #4 · answered by Anonymous · 0⤊ 0⤋