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If you run 5k's & the money goes to a charity, does that count as a deduction?

Forum|Forum|7 years ago
June 1, 2019
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TurboTax Online

Best answer by VEpling2

If you are talking about the money you paid to enter the race the answer would still be no unfortunately. Even if the entry fee went to a recongized charity you received a benefit from the fee by being able to participate in the race. IRS rules say that donations are not deductible when the donor receives a benefit.

If you can determine that the benefit is less than the amount paid to the charity you may be able to take a partial deduction. To use this you must receive a statement from the organization stating the value of the benefit you received. Please see the IRS website for more detailed information on this type of donation.

Carl11_2

Employee

No. The money was never paid to "YOU" as taxable income. So you can't deduct from your taxable income, that which you never paid taxes on to begin with.

VEpling2Answer

Employee

If you are talking about the money you paid to enter the race the answer would still be no unfortunately. Even if the entry fee went to a recongized charity you received a benefit from the fee by being able to participate in the race. IRS rules say that donations are not deductible when the donor receives a benefit.

If you can determine that the benefit is less than the amount paid to the charity you may be able to take a partial deduction. To use this you must receive a statement from the organization stating the value of the benefit you received. Please see the IRS website for more detailed information on this type of donation.