Can $10,000 contribution to a relief fund be tax deductible?

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Can $10,000 contribution to a relief fund be tax deductible?

2007-10-18 03:48:11 · 2 answers · asked by Angela C 1 in Business & Finance ➔ Taxes ➔ United States

2 answers

Before the contribution is made, ask the fund what their status is. They will know.

Your deduction is limited to 50% of your AGI. Any amount not deducted can be carried forward.

2007-10-18 04:01:56 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋

If the fund has 501(c)3 status.

2007-10-18 10:54:57 · answer #2 · answered by Judy 7 · 0⤊ 0⤋