I started a scholarship fund for 2017. Where do I put that in?

[tootall44]

This is money donated by me for highschool students to help pay for college.

[georgesT · Accepted solution]

It depends.

If the donation is a personal and you donated through a charitable organisation, you can claim that on Schedule A of your 1040.  

In general, if your itemized expenses are more than the Standard deduction, then you can itemize and claim charitable contributions you made to qualified organizations(like churches, Goodwill, Salvation Army, etc). 

To determine if the organization that you contributed to qualifies as a charitable organization for income tax deduction purposes, refer to IRS EO Select Check tool. For more information, see Publication 526, Charitable Contributions and Can I Deduct My Charitable Contributions?

[re2boys]

If you donate directly to the students, without benefit of a charitable entity, it is considered a personal gift and is not deductible.