Should I claim funds raised from a Custom Ink Fundraiser on my taxes?
If you have selected to have the funds sent to yourself as the organizer in the form of a check, and have raised over $600 in a year, Custom Ink Fundraising will require a completed W-9 form that we'll send you at the end of your fundraiser.
If you have selected to have the funds sent to yourself as the organizer via PayPal, and have raised over $600 in a year, PayPal will send a 1099-K at the beginning of next year (the form is strictly to notify you that you received these payments, so you can accurately report income if needed when you prepare your taxes).
Any additional donation or donation only contribution may be eligible for tax exemption. Any amount toward a shirt or item purchase is not tax deductible, as there are services rendered.
Since we’re t-shirt experts and not tax experts, we recommend reaching out to your attorney or tax advisor with specific questions.