Can Sports Tickets Donated to Charity Be Tax Deductible?

Sports tickets are deductible.

Deducting the value of items given to charitable organizations can significantly decrease a taxpayer's tax bill. Many charitable organizations receive items such as clothing, blankets, electronics and toys from contributors. According to federal tax laws, taxpayers may deduct almost anything of value from their taxes -- including sports tickets.

Sports Tickets

The organization to which a taxpayer donates sports tickets must be a legal charitable organization. A person cannot simply give the tickets to another family member and expect to be able to write off the tickets' value. Determining the value of donated sports tickets is typically fairly simple. Most tickets have the cost printed directly on them.

Documentation

Most charitable organizations give receipts to contributors. Contributors must keep these receipts and show them to the IRS in the event of an audit. Charitable organizations do not fill out these receipts. It is the responsibility of the taxpayer to determine the value of the tickets and fill out the receipt himself.

Filing Requirements

Before attempting to donate sports tickets before the end of the tax year in an attempt to maximize his deductions, a taxpayer should consider how he will report his deductions. If he takes the standard deduction when he files his taxes, this means that he will not get tax credit for any donations that he makes, including the donation of sports tickets. A contributor must itemize his deductions if he wants credit for each donation he makes.

Limits

A contributor may donate as much as he would like during a tax year, but there is a chance he will not be able to deduct the full value of the tickets he donated. For example, if a person donates season tickets to a charitable organization, he may deduct only up to 50 percent of his adjusted gross income. This means that if the tickets are valued at $10,000 and his adjusted gross income is $18,000, he can only deduct $9,000 during the current tax year. He may deduct the remaining amount in the any of the next five tax years.

references & resources