I bought a ticket to a charity event for $4,000, ded. portion is $3,500. I then donated ticket to another charity for their use. is my total dedauction 7,500?

Forum|Forum|7 years ago
June 5, 2019
1 reply
10 views

No text available

TurboTax Deluxe iOS

Opus 17

Level 15

No, your maximum donation value can never be more than your basis (what you paid) so $4000.

If you report it as a $3500 donation to charity A, then only the remaining value of $500 is a donation to charity B. You can't get a double deduction.

I bought a ticket to a charity event for $4,000, ded. portion is $3,500. I then donated ticket to another charity for their use. is my total dedauction 7,500?

1 reply

Unlock tailored help options in your account

Get answers to all your tax questions

Unlock tailored help options in your account

Get answers to all your tax questions

Sign up

Login with SSO

Let's get you signed in

Login with SSO