I'm so sorry to hear about your daughter's diagnosis and everything your family has been through. Pediatric AML is incredibly challenging, and I can only imagine the emotional and financial stress you've been under. The great news is that you can definitely stop worrying about the tax implications of your GoFundMe donations. Everyone here is absolutely correct - medical crowdfunding donations are considered gifts under IRS rules and are NOT taxable income to you. You won't need to report that $24,000 on your tax return at all. Given your previous experience with IRS issues after your divorce, I completely understand why you're anxious about this. But this situation is entirely different. The IRS is very clear in Publication 525 that gifts received are not considered income to the recipient, and medical GoFundMe campaigns fall squarely into this category. A few practical suggestions to give you complete peace of mind: 1. Keep a simple record of donations received and major medical expenses paid 2. Save screenshots of your GoFundMe page showing it was clearly for medical purposes 3. Hold onto bank statements showing the GoFundMe transfers 4. Consider keeping the funds in a separate account to make tracking easier The fact that GoFundMe hasn't sent you any tax forms is completely normal and expected - they don't issue 1099s for personal medical campaigns because these donations are treated as non-taxable gifts. Your community's generosity during this crisis shouldn't create any tax burden for you. Focus on your daughter's recovery and let this be one less thing on your plate. Wishing your daughter continued strength in her treatment and your family peace during this difficult journey.

I'm so deeply sorry to hear about your daughter's AML diagnosis and everything your family has endured. As a parent myself, I can't imagine the strength it takes to navigate both the medical and financial challenges you've faced. The wonderful news is that you can absolutely put your tax worries to rest. Medical GoFundMe donations are definitively considered gifts under IRS guidelines, not taxable income. That $24,000 your community generously donated will NOT need to be reported on your tax return. I completely understand your anxiety given your previous IRS experience after your divorce. However, this situation is fundamentally different - you're receiving gifts from people who want to help during a medical crisis, with no expectation of anything in return. Here's what I'd recommend for your peace of mind: 1. Save your GoFundMe campaign page showing the clear medical purpose 2. Keep a simple log of donations received and major medical expenses 3. Retain bank statements showing GoFundMe transfers 4. Consider opening a separate account for these funds to create a clean paper trail The absence of tax forms from GoFundMe is completely normal - they don't issue 1099s for personal medical campaigns because these are non-taxable gifts. Your community rallied around your family during an unimaginable time. That generosity shouldn't create additional stress. Focus on your daughter's healing journey - the tax concern is one burden you can officially set aside. Sending thoughts and prayers for your daughter's continued recovery and strength for your entire family.

Thanks everyone for the detailed responses! This has been incredibly helpful. Just to clarify my situation based on what I've learned here - my primary residence mortgage of $780k means I can only deduct interest on $750k of that debt. But the rental property mortgage interest gets deducted on Schedule E as a business expense, so it doesn't count against that $750k personal residence limit at all. I'm going to double-check my mortgage documents to see the exact dates and amounts to make sure I'm calculating this correctly. The grandfathering rules that Natasha mentioned are interesting too - I need to verify if any of our debt qualifies for the old $1M limit. Has anyone used the mortgage interest limitation worksheet in Publication 936? I'm still finding it confusing even with all this great advice. Might end up trying one of those AI tools or calling the IRS directly if I can't figure out the exact calculation.

I just went through this exact situation last year when I bought my first home over the $750k limit! One thing that really helped me was keeping detailed records of exactly when each mortgage was originated and what the funds were used for. For your primary residence at $780k, you're right that only $750k worth of interest is deductible on Schedule A. But here's something I learned the hard way - make sure you're calculating the percentage correctly. It's not just $750k/$780k of your total interest. You need to look at the actual loan balance throughout the year since it changes with each payment. The rental property being on Schedule E is definitely the way to go - that was a relief when I figured that out since it doesn't eat into your personal residence limit. One more tip: if you're using TurboTax, there's a section where it walks you through the mortgage interest limitation calculation step by step. It's much clearer than trying to work through Publication 936 manually. Just make sure you have all your 1098 forms and original loan documents ready before you start!

One thing nobody mentioned that surprised me - the IRS actually has a database called "Exempt Organizations Select Check" where you can verify if your donation is to a qualified organization. I almost claimed a donation to a group that wasn't actually tax-exempt! Also, if you get something in return for your donation (like auction items, dinner tickets, merchandise) you can only deduct the amount ABOVE the fair market value of what you received. My cousin made this mistake with a charity gala - paid $500 for a ticket but the dinner value was $100, so only $400 was deductible.

This is such a helpful thread! I'm in a similar situation with about $2,800 in donations last year. One thing I learned from my tax preparer is that if you're close to the itemizing threshold, you might want to consider "bunching" your donations - basically making multiple years' worth of donations in one tax year to push you over the standard deduction limit, then taking the standard deduction in the off years. For example, instead of donating $3,000 every year, you could donate $6,000 every other year and itemize those years while taking the standard deduction in between. This strategy works especially well if your other itemizable deductions (mortgage interest, SALT, etc.) are already close to the threshold. Also, don't forget that if you're over 70½, you can make Qualified Charitable Distributions directly from your IRA to charity, which counts toward your required minimum distribution but isn't included in your taxable income. It's sometimes better than the regular charitable deduction depending on your situation.

You got completely ripped off. I used CoinTracker to organize my 43 trades for $60, then imported that into TurboTax. Total cost was less than $150. H&R Block is taking advantage of people who don't understand crypto.

Same thing happened to me but worse - $650 for 24 transactions at Jackson Hewitt! I learned my lesson and switched to TaxAct this year. Did everything myself for $25 with their crypto import feature. These big tax chains are preying on our uncertainty with crypto taxes.

This is such a common situation for new graduates! I went through the exact same thing two years ago when I finished school and started working. One thing that really helped me was creating a simple spreadsheet to track all the support calculations. I made columns for each month and listed out major expenses like tuition, housing, food, insurance, etc. Then I marked whether I paid it or my parents paid it. It was eye-opening to see how much support my parents actually provided in those first 8 months of the year, even though I felt completely independent once I started working. For the green card application, definitely go with the current household size of 2 since you're no longer living there. But for taxes, you'll likely still be a dependent for 2024 unless your August-December income was substantial enough to cover more than half your total yearly expenses. One tip: if you're on your parents' health insurance or car insurance, don't forget to include those monthly premiums in the support calculation. Those add up quickly and often push the total support over the 50% threshold in favor of the parents.

Great thread everyone! As someone who works in tax prep, I see this exact situation all the time with new graduates. A couple of additional points that might help: 1. **Timing matters for the support test** - Don't forget that if you took out student loans to pay for that final semester, those loan proceeds count as support YOU provided to yourself, not your parents, even if your parents helped you apply or cosigned. This can sometimes tip the scales. 2. **Keep documentation** - Whatever you decide, make sure to keep records of your calculations. If you're ever questioned, the IRS will want to see how you determined who provided what percentage of support. 3. **Consider the tax benefits** - Run the numbers both ways before deciding. Sometimes it's actually better financially for the family overall if the parent claims the dependent exemption, especially if they're in a higher tax bracket. 4. **State taxes can be different** - Some states have their own rules for dependency that might differ from federal, so don't assume it's the same across the board. For your mom's green card application, you're absolutely right to use the current household size of 2. Immigration forms care about who's actually living in and supported by the household now, not historical tax filing status.