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I have a small business which is sports training for kids. I give out scholarships for underprivledged kids. Can I deduct the value of the scholarships? If so, where?
I have a small business which is sports training for kids. I give out scholarships for underprivledged kids. Can I deduct the value of the scholarships? If so, where?
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June 6, 2019
12:23 PM
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Education
No, unfortunately, the IRS does not allow a deduction for income not earned.
The scholarships are essentially a gift which is not deductible.
June 6, 2019
12:23 PM