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12-31-2004, 06:10 AM
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| Coupons/Rebates/Taxes Ok, I need your help. I've been arguing with my boss that people can write off their donations to food pantries, shelters, etc using to before coupon/rebate price for two months now. She doesn't believe me. I need something offical. If you do this, do you know of any link to the irs website or somewhere were it states this is allowable? Thanks everyone! Trish   |
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12-31-2004, 06:28 AM
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| I don't know the link, but I know it's "fair market value" that you can deduct. That means before coupons & sales! |
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12-31-2004, 12:16 PM
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12-31-2004, 12:22 PM
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| Donation Deduction Rules IRS LINK - PAGE A-5 Go to page A-5 of the instructions and see Line 16. Basically says fair market value and keep your receipts if you donate over $500. HTH |
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12-31-2004, 03:08 PM
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| LOL Thanks guys! So often the obvious answer eludes me. It's funny cuz we were going over all the right offs we can both take having small bizs and it just bugged me that I couldn't think of the specific reason you could use to profit from c/o as far as taxes goes. It still won't help me - I have still don't have enough deductions to itemize mine.  |
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