Hello,
I am looking to make a sizeable donation to a private school in a different state. My kids will not attend the school but I believe in its mission. This is a Jewish day school but I don't believe it is a non-profit. Would I be able to write off my donation to the school in next year's tax returns?
Thanks!
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If the school is a for-profit institution then any donations to the school are not deductible on a tax return as a charitable donation.
you get no charitable deduction for contributing to a for-profit organization.
rather than guess
• Check with the organization to which you'll make the donation. The organization should be able to provide you with verification of its charitable status.
• Use our the IRS online search tool at
https://www.irs.gov/charities-non-profits/tax-exempt-organization-search
The school says it is a 501(c)(3) organization. Would donations to this type of organization be considered tax deductible?
@icefyre123 wrote:
The school says it is a 501(c)(3) organization. Would donations to this type of organization be considered tax deductible?
Yes.
See this TurboTax website for information - https://turbotax.intuit.com/tax-tips/charitable-contributions/are-contributions-to-nonprofit-schools...
The Internal Revenue Code allows taxpayers to claim a deduction for donations they make to qualified organizations. A qualified organization includes most nonprofit schools that operate exclusively for educational and literary purposes. However, a donation may not be tax deductible if the school engages substantially in other activities unrelated to charitable, scientific, humanitarian or religious purposes.
501(c)(3) is one of the type of organizations that are eligible for tax-exempt donations. The organization must be listed on the IRS web site linked above. They must also give you a receipt if your donation is more than $75. You must also have a bank record of any money donation (credit card transaction record, canceled check, etc.)
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