submitted 1 year ago by jack@monero.town to c/monero@monero.town

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If I donate XMR to e.g. the developers of a free software project, how are taxes handled? Is the developer assumed to report his profits to the state and handle the taxes or do most devs just keep 100% of the donation?

If it would somehow be made public that I donated x amount to a dev and that neither of us payed taxes, would the dev be taken accountable or me or both of us?

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[-] dMartian@monero.town 2 points 1 year ago

The main question for you as a donor is if you're expecting it to be a tax deduction. If so, you might want to let give a heads up.

Donors don't have to report anything, though. So if you don't want to report donations, you don't have to. For you, it doesn't matter whether the donation gets reported by the receiver.

The issue is if the same tax agency sees a donations being charitable donations being claimed that exceed the reported income from donations, because then they know someone reported incorrectly.