Do I have to pay taxes?
Money donated to teachers on Classful are regarded as “personal gifts” and are, generally, not taxable in the US. However, it depends on the teacher’s particular case since there are instances where donations received may be taxed as income or a deduction.
Taxation usually depends on factors such as the use of the funds received. Various tax rules and exceptions apply to various situations and states and may change along the way.
This information serves as a general guidance since Classful cannot and does not offer tax advice to the general public, teacher’s, or their beneficiaries. Additionally, Classful does not report funding as income at year end or issue tax documents to teachers or beneficiaries.
For these reasons, we recommend that you keep proper records of all funds received and consult a tax professional for further guidance.
If you’re a teacher, please visit the donations page (when logged in) to view all funds received.