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amarquis
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When inputting donation to charity, what amount do i input when there is a value of goods and services received? total donation amount, value of goods and services received only, or difference between

 
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When inputting donation to charity, what amount do i input when there is a value of goods and services received? total donation amount, value of goods and services received only, or difference between

You will enter the difference in the contribution area.

Gave $500 and got back something of value worth $80, then enter $420.

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4 Replies

When inputting donation to charity, what amount do i input when there is a value of goods and services received? total donation amount, value of goods and services received only, or difference between

You will enter the difference in the contribution area.

Gave $500 and got back something of value worth $80, then enter $420.

When inputting donation to charity, what amount do i input when there is a value of goods and services received? total donation amount, value of goods and services received only, or difference between

Hello,

 

What if the donor gave a donation through CC and receives miles for the payment.  Is that considered they got something in exchange or is it only if the non-profit gave them something in exchange?

When inputting donation to charity, what amount do i input when there is a value of goods and services received? total donation amount, value of goods and services received only, or difference between

If you get some miles on a credit card for airlines (for example), you do not need to address this on your tax return.

 

IRS looked at taxing these miles when employees got them some years ago, however it became an accounting nightmare, as some were personal, some were business, and then it is difficult to determine the value and many miles expire, never used.

 

So just disregard the fact that you may have earned some miles, when making a payment via a credit card. 

RobertG
Expert Alumni

When inputting donation to charity, what amount do i input when there is a value of goods and services received? total donation amount, value of goods and services received only, or difference between

It's only if the nonprofit gave them something in exchange.

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