qbteachmt
Level 15

You don't make the 1099-K. The Payment Settlement Entity does this. Example:

Everyone gave through PayPal, so PP will issue the 1099-K to your client. Or, some people gave through credit cards, so the various Card Providers are responsible. Neither you nor your client are Payment Settlement Entities. You are the End Recipient.

"I was listed as the beneficiary."

Then the GoFundMe is presumed to be "for the benefit" of You, an individual.

 

Nothing here has anything to do with a Sched C business. All of this is Personal. No business return provides for Charitable giving other than 1120, anyway. That's the wrong concept.

 

You also seem to be confusing Gift and GoFundMe.

 

And now I stopped reading, too.

 

I would recommend listing it as Other Income, then backing it out as other deduction showing, for instance, it went to the local Hospital or whatever it actually went to, and be ready to defend that was Covid related and for the public good.

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"Level Up" is a gaming function, not a real life function.

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