2007-02-27 06:14:55 · 3 answers · asked by basilgreek 2 in Business & Finance ➔ Taxes ➔ United States
If that's their standard membership fee, then none of it is deductible - what you're getting for it has the value of what you're paying.
If you made a $100 contribution and that entitled you to a one-year membership (normal fee $65) then the difference, or $35, would be deductible.
2007-02-27 14:38:01 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Bostonian is fairly accurate, except that the museum isn't likely to tell you how much you might deduct on your taxes. Do you receive anything of benefit for your $65? If you don't then the whole shebang is deductible.
2007-03-02 19:02:07 · answer #2 · answered by Scott K 7 · 0⤊ 0⤋
Only the amount that exceeds the fair market value of the membership. If any of the fee is considered tax deductible, they should tell you how much that is.
2007-02-27 06:23:43 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋