From turbotax: "By IRS definition, charitable contributions represent gifts given without reciprocity. Supporting a charitable organization by buying merchandise or attending an event puts you into the got-something-in-return category. The price you pay for food, wrapping paper or magazines sold in fundraisers cannot be fully deducted; only the difference between your purchase price and fair market value qualifies. For example, paying $10 for a roll of wrapping paper from a school group that carries an $8 price tag in retail outlets gives you a $2 deduction. Likewise, buying a $50 ticket to a charitable event that includes a meal translates into a $20 deduction after subtracting the $30 you would have paid for that meal in a restaurant.”
So you could conceivably deduct $20-30.. probably. ~Jakob > On Apr 30, 2018, at 1:04 AM, Emily Hampton <[email protected]> wrote: > > I seem to remember that LFNW is a 501c3 now. I wouldn't think that you would > be able to deduct the entire amount of the individual sponsorship since it > does come with swag but I'm not entirely sure so you may want to ask a tax > attorney or wait for a Fest organizer to get back to you. Since they are all > exhausted right now it will probably take at least a few days to hear from > one of them. Sorry I couldn't be more helpful that this. > > Emily H. > > On Sun, Apr 29, 2018 at 9:41 PM, Adam Monsen <[email protected] > <mailto:[email protected]>> wrote: > Great fest this year, all! I had a wonderful time. > > Is the "individual supporter" registration donation "charitable", e.g. for US > federal tax purposes? > > _______________________________________________ > Fest-list mailing list > [email protected] <mailto:[email protected]> > http://lists.blug.org/cgi-bin/mailman/listinfo/fest-list > <http://lists.blug.org/cgi-bin/mailman/listinfo/fest-list> > > > _______________________________________________ > Fest-list mailing list > [email protected] > http://lists.blug.org/cgi-bin/mailman/listinfo/fest-list
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