topic Are donations through Paypal tax deductible? in Deductions & credits

Are donations through Paypal tax deductible?

onur_gungor — Wed, 31 Mar 2021 04:54:43 GMT

This year, cash contributions up to $300 can
be claimed on standard deduction. Does this include donations through Paypal giving fund?

Re: Are donations through Paypal tax deductible?

AnnetteB6 — Wed, 31 Mar 2021 12:39:21 GMT

Yes, the PayPal Giving Fund is an IRS-registered 501(c)(3) public charity and donations made to the PayPal Giving Fund are tax deductible.

Re: Are donations through Paypal tax deductible?

Opus 17 — Wed, 31 Mar 2021 14:53:07 GMT

"Cash" donations really means "money", and includes cash, checks, bank transfers, and credit card payments.

It does not include stocks, items of donated property, or anything that is not "money."

Re: Are donations through Paypal tax deductible?

BarryGraham — Tue, 01 Mar 2022 12:45:33 GMT

On the tax return, is it acceptable to name the gift recipient that you give to via PayPal Giving, or should all payments via PayPal Giving be shown as donations to PayPal Giving?

Re: Are donations through Paypal tax deductible?

Opus 17 — Tue, 01 Mar 2022 13:25:05 GMT

@BarryGraham wrote:

On the tax return, is it acceptable to name the gift recipient that you give to via PayPal Giving, or should all payments via PayPal Giving be shown as donations to PayPal Giving?

You can never deduct a gift or donation to a specific person, even if they are needy. Donations are only deductible when made to a US-based exempt organization registered with the IRS. You can search here.

https://apps.irs.gov/app/eos/

(You can also deduct charitable gifts to branches of government, which includes public schools, and branches of government will not be separately registered with the IRS. Local churches may not be listed but the national denomination probably is.)

You would list the organization as the recipient, not PayPal. You would only list "PayPal Gives" as the organization if you donated to PayPal Gives for them to pass out as they see fit. If you direct where the money goes, list the organization where you directed the funds.

Note that the organization must give you a written receipt if the gift is more than $75, even if you also have a transaction report from PayPal.

Re: Are donations through Paypal tax deductible?

BarryGraham — Tue, 01 Mar 2022 13:29:39 GMT

You can never deduct a gift or donation to a specific person, even if they are needy. Donations are only deductible when made to a US-based exempt organization registered with the IRS. You can search here.
https://apps.irs.gov/app/eos/

Yes I know, the fact that I am giving through PayPal Giving means that it's tax deductible.

You would list the organization as the recipient, not PayPal. You would only list "PayPal Gives" as the organization if you donated to PayPal Gives for them to pass out as they see fit. If you direct where the money goes, list the organization where you directed the funds.

Note that the organization must give you a written receipt if the gift is more than $75, even if you also have a transaction report from PayPal.

Thank you. I think the amount is $250 not $75. See https://www.irs.gov/taxtopics/tc506

Re: Are donations through Paypal tax deductible?

Opus 17 — Tue, 01 Mar 2022 13:46:42 GMT

@BarryGraham wrote:

You can never deduct a gift or donation to a specific person, even if they are needy. Donations are only deductible when made to a US-based exempt organization registered with the IRS. You can search here.
https://apps.irs.gov/app/eos/

Yes I know, the fact that I am giving through PayPal Giving means that it's tax deductible.

You would list the organization as the recipient, not PayPal. You would only list "PayPal Gives" as the organization if you donated to PayPal Gives for them to pass out as they see fit. If you direct where the money goes, list the organization where you directed the funds.

Note that the organization must give you a written receipt if the gift is more than $75, even if you also have a transaction report from PayPal.

Thank you. I think the amount is $250 not $75. See https://www.irs.gov/taxtopics/tc506

We are both half right. The giver must have a receipt over $250. The organization must provide a receipt over $75 under certain conditions.

Written statement.

A qualified organization must give you a written statement if you make a payment of more than $75 that is partly a contribution and partly for goods or services. The statement must say you can deduct only the amount of your payment that is more than the value of the goods or services you received. It must also give you a good faith estimate of the value of those goods or services.