are political contributions deductible
The IRS offers these nine tips to help ensure your contributions pay off on your tax return. 1  If you want a tax deduction, you must donate to a qualified charitable organization. You cannot deduct contributions you make to either an individual, a political organization or a political candidate. Any donation to a political party, campaign, or action committee is not tax deductible. 1  According to the Internal Revenue Service, “You cannot deduct contributions made to a political candidate, a campaign committee, or a newsletter fund. 2  Limits On Contributions To Political Campaigns. IRS Tax Tip 2013-45, April 1, 2013. Giving to charity may make you feel good and help you lower your tax bill. The IRS offers these nine tips to help ensure your contributions pay off on your tax return. If you want a tax deduction, you must donate to a qualified charitable organization. Are Political Contributions Tax Deductible ? It’s hard to turn on the TV and not see a political ad or commentary on the candidates. No matter who you are pulling for, they continue to make the case that they need your dollars to win. Thanks for this enlightening post. I know a ton of people who donate to political campaigns and there are a lot of elections (mostly local) coming up in November. Reply. Wow, I thought all contributions are tax deductible. Good to learn something new. Reply. Fair Taxation. Other non-deductible contributions are those to individual people, labor unions, business associations, for-profit schools, for-profit hospitals, foreign governments, and fees paid to associations or state or municipal governments. Limits On Contributions To Political Campaigns. Unlike charitable donations, which are tax deductible, donations to a political party or PAC are NOT tax deductible. The IRS states, You cannot deduct contributions made to a political candidate, a campaign committee, or a newsletter fund. Advertisements in convention bulletins and admissions to dinners or programs that benefit a political party or political candidate are not deductible.. Tagged with: tax deductible donations , tax deductions , tax deductible donation , tax deductible , campaign finance reform , political contributions , political donation , campaign finance , donation , presidential election , 501c3 organizations. Posted in: Tax Tips. Any donation to a political party, campaign, or action committee is non-deductible. Other non-deductible contributions are those to individual people, labor unions, business associations, for-profit schools, for-profit hospitals, foreign governments, and fees paid to associations or state or municipal governments. You must file Form 1040 and itemize your deductions on Schedule A. If your total deduction for all noncash contributions for the year is more than $500, you must also file Form 8283, Noncash Charitable Contributions, with your tax return.
No, You cannot deduct contributions made to a political candidate.