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You may accept gifts from other persons or businesses - that is not an issue.
As long as that is a true gift (and not a compensation for services, etc) - the gift is NOT taxable income for you. Regardless of the amount. Regardless how you use the money.
That is correct - you may accept $1,000,000 as a gift - and will NOT report that amount on your tax return.
However - donors will NOT be able to deduct that gift on the tax return.
Only gifts to qualified charitable organizations are deductible.
Gifts to any specific person or gifts that benefit any specific person - are NOT deductible.
To register a charitable organization - that is absolutely legal.
But to use donated funds for your own benefits world be a violation for charitable status - that is illegal.
Regardless if that person in needs and donations are reasonable.
That would be illegal to tell donors that their donations are deductible.
Otherwise - you may accept donations and may use them for your education
That means - soliciting for donations - and regulated by your state laws.
"Solicit" or "solicitation" means any oral or written request, however communicated, whether directly or indirectly, for a contribution.
See T.C.A. §48-101-501(10).
Tennessee laws regulates professional solicitors.
For instance - any salaried officer or employee of a charitable organization that engages in the solicitation of contributions for compensation in any manner for more than one (1) charitable organization is deemed a professional solicitor.
But if you are not a professional solicitor - there is nothing illegal.
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