Today TaxMama® hears from Eliezer in the TaxQuips Forum with this interesting question. “Many non-profit organizations run raffles with great prizes. Sometimes the raffle tickets can get pricey (>$100) and the entrants want to deduct these amounts as charitable contributions to the non-profit organization. Assuming the entrant did not have any winnings, is there any situation […]
Tag Archives: Raffle
Today TaxMama hears from Jim in Missouri who’s come up with a winner. “I am on the board of directors for a Lutheran school. We wish to enter a raffle for a prize (car, jewelry, etc.), then offer whatever what is won at our annual dinner/silent auction night. If we win one of the items […]