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I spent about $950 on brand new computer to run QuickBooks for the organization. I am an executive board member (treasurer). This computer isn't necessary used for just the organization, it is my personal computer as well but has all the organizations information stored on it. I have not been reimbursed for any expenses.
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No. The cost of the computer would not be a charitable deduction. According to the IRS, a donor cannot continue to enjoy control over donated funds or property contributed; the gift must be irrevocable to qualify for the charitable deduction. In other words, you cannot continue to use the computer as your personal computer and claim it a charitable deduction.
As long as it's an organization that has been granted tax-exempt status by the IRS and is eligible to receive tax-deductible charitable contributions, you can deduct any other unreimbursed out of pocket expenses, such as software, mileage
If you're not sure of the organization's charitable status, contact them directly or use the IRS Exempt Organizations Lookup Tool.
If you have any other details regarding this question, please feel free to post them in the comment section.
No. The cost of the computer would not be a charitable deduction. According to the IRS, a donor cannot continue to enjoy control over donated funds or property contributed; the gift must be irrevocable to qualify for the charitable deduction. In other words, you cannot continue to use the computer as your personal computer and claim it a charitable deduction.
As long as it's an organization that has been granted tax-exempt status by the IRS and is eligible to receive tax-deductible charitable contributions, you can deduct any other unreimbursed out of pocket expenses, such as software, mileage
If you're not sure of the organization's charitable status, contact them directly or use the IRS Exempt Organizations Lookup Tool.
If you have any other details regarding this question, please feel free to post them in the comment section.
Hello, I am in similar situation, PTA (school) treasurer, can I write off any other expenses that I would not submit for reimbursement? For example milage or gas (prorated based on my travel) or coffee/pastries bought for the meetings?
It depends. If you are a volunteer treasurer for the PTA, then yes, your mileage and any other expenses would be deductible IF you are itemizing your deductions. Itemized expenses include mortgage interest, gambling losses up to winnings, charitable contributions, state and local taxes up to $10,000, medical expenses in excess of 7.5% of your AGI and casualty and losses in excess of 10% of you AGI with the first $100 not counting towards the loss. Your health insurance and all medical expenses are only deductible for the amount that is over 7.5% of your AGI. This means if your AGI is $50,000, then the amount that is over $3,750 is deductible.
Then your total itemized expenses would need to be greater than your standard deduction below in order to benefit from your expenses.
The 2024 Standard Deductions are as follows:
Blind or over 65 and MFJ or MFS add $1,500
Single or HOH if blind or over 65 add $1,850
Standard versus Itemized Deduction
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