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Can I deduct my contribution to athletic scholarships ?
As long as the scholarship donation was made to a non-profit school and you itemize your personal deductions, then you will qualify to claim this contribution. However, charitable contributions are limited and there is a limit on how much you can deduct.
The basic rule is that your contributions to public charities, colleges, and religious groups can't exceed 50 percent of your Adjusted Gross Income (AGI). The caps are a bit lower for gifts to other types of nonprofits. Please view page 3, of this IRS link below for more information about this type of charitable contribution.
- Mark as New
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Can I deduct my contribution to athletic scholarships ?
As long as the scholarship donation was made to a non-profit school and you itemize your personal deductions, then you will qualify to claim this contribution. However, charitable contributions are limited and there is a limit on how much you can deduct.
The basic rule is that your contributions to public charities, colleges, and religious groups can't exceed 50 percent of your Adjusted Gross Income (AGI). The caps are a bit lower for gifts to other types of nonprofits. Please view page 3, of this IRS link below for more information about this type of charitable contribution.
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