Those crowdfunding contributions you made or received last year, amid the hardships of the COVID-19 pandemic, are they tax deductible?

The growing crowdfunding phenomenon has exploded in the past five years with sites like Kickstarter and Indiegogo. With crowdfunding, startups raise the funds they need in small doses, and “investors” get returns on their small investments, or products, perks or rewards for their donation-based funding. And now recent changes to SEC rules have made it possible for crowdfunding sites to allow startups to offer qualified investors a small slice of equity.