Crowdfunding money may be taxable?

That’s what the IRS reminds you if you raise money through a crowdfunding platform. Usually, funds raised through crowdfunding are includible in gross income. But if crowdfunding contributions are made as a result of the contributors’ detached and disinterested generosity, and without the contributors receiving or expecting to receive anything in return, the amounts may be tax-free gifts. #IdeaoftheDay