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Can I donate money for college and claim it

If a small company is donating for college can they do a claim in their tax returns
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7 Replies

Can I donate money for college and claim it

Do you own the "small company?"

Can I donate money for college and claim it

so my brother owns a small company and I do not get FASFA so I wasnt sure if he was to help me pay for college as a gift or donation to my school and I was able to pay for college

Can I donate money for college and claim it

In order for it to be deductible, any donation that he makes to the school cannot be designated for you.
bwa
Alumni
Alumni

Can I donate money for college and claim it

directly to an individual

Gifts to individuals such as your family or others are not deductible. Only gifts to recognized charitable organizations or Governments such as the Red Cross or Salvation Army are deductible.



bwa
Alumni
Alumni

Can I donate money for college and claim it

If you're anticipating making a charitable contribution to a state, municipal or not for profit college the contribution would be deductible on Schedule A as a charitable contribution.  Your reference to a "small company", however, indicates there may be more to the question than that.

Can I donate money for college and claim it

You said "for" college rather than "to" college. Are you paying someone's tuition?  Or are you donating directly to an individual so that person can go to college?

Can I donate money for college and claim it

directly to an individual
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