in [Event] Ask the Experts: Investments: Stocks, Crypto, & More
2282757
You'll need to sign in or create an account to connect with an expert.
No. Gifts to specific people are never tax deductible. To claim a deduction for charitable donations, the donation must be to a US-based charity that is registered with the IRS (or the US-based branch of certain International charities).
No, you can't take a tax deduction for that. In order to be deductible, your donation must go to a 501(c)(3) organization. You'll have to settle for the good feeling for having been generous and kind.
Thank you so much!
Thank you very much!
You cannot deduct gifts to specific people, even if it is "charitable". Only contributions to a 501(c)(3) organization are considered "charitable contributions" by the IRS.
@phildonnia wrote:
You cannot deduct gifts to specific people, even if it is "charitable". Only contributions to a 501(c)(3) organization are considered "charitable contributions" by the IRS.
Well, to get pedantic about it, there are a couple of other tax codes under which an organization may be tax exempt and eligible for deductible donations. You can search here,
Also, you can deduct donations to "US and state government", including branches of government, even though they won't be listed in the Exempt Organization database, and this can include your local fire department, possibly a state hospital, town parks and recreation department, public schools, and similar organizations.
Pedantry is always welcome. Thank you for the additional clarification.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
user17525168329
Level 1
in [Event] Ask the Experts: Investments: Stocks, Crypto, & More
user17524233574
Level 1
in [Event] Ask the Experts: Investments: Stocks, Crypto, & More
CTinHI
Level 1
Candyman
New Member
another1ofhis
New Member