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Deductions & credits
Annnd....both of you need to remember that a charitable donation would not be a tax "Credit".....it would be an Income Deduction for the friend. Which is not the same thing. His reduction in taxes would be a certain lower % of his contribution, related to his tax bracket when he files.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎August 14, 2021
3:31 AM