Bad news, crowdfunders.
Tax professionals are saying that the Internal Revenue Service (and probably your friendly State tax collector) believe that all moneys you receive from crowdfunding is taxable income.
Guess what? That DVD reward, it’s considered a “sale” and subject to income tax and probably state sales tax.
However, if you’re in business and you have expenses (the cost of that DVD) that may offset the income received, you may not owe tax (but you didn’t make a profit either).
And, if rich daddy “donates” more than $14,000, he may have gift tax issues.
(Note: equity investments would not be taxable until their sale).