Any tricky people out there have an idea?
Not an organization, but would be for a educational purpose (horse), must get tax deduction.
Any ideas?
2007-10-07 06:04:47 · 3 answers · asked by HCOcowgirl 2 in Business & Finance ➔ Taxes ➔ Other - Taxes
No, a donor may only take a tax deduction for a donation to a registered 501(c)3 charity, never to an individual. Even if a donation is given to a charity, if it's given with the provision that it goes to a particular individual or family, it's not deductible. So no, a donor giving you a horse can't deduct anything from their taxes for the donation.
2007-10-07 06:37:18 · answer #1 · answered by Judy 7 · 4⤊ 0⤋
No, no way. Only donations to registered 501(c)3 charities are deductible by the donor. Additionally if the donation is funneled through a registered charity but earmarked for a specific purpose or person the donation is NOT deductible.
2007-10-07 15:35:16 · answer #2 · answered by Bostonian In MO 7 · 3⤊ 0⤋
It must be given to a 5013c, and it can't be given to a specific person in that entity, no exceptions, period!!!
2007-10-10 14:57:57 · answer #3 · answered by Buddy A 3 · 0⤊ 0⤋