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Subject:
Charitable giving through Amazon wishlists - tax deductible for buyer?
Category: Business and Money Asked by: cssdev-ga List Price: $10.00 |
Posted:
17 Oct 2006 21:56 PDT
Expires: 16 Nov 2006 20:56 PST Question ID: 774569 |
I'm developing a charitable giving site, and I'd like to use Amazon's wishlist technology and enable only legit, authorized charitable organizations to publish their lists on the site. My primary question pertains to the donors. If someone purchases an item from the list, can they use it as a tax write-off and if so, does Amazon provide anything to help? I've been unable to find any documentation on this anywhere. |
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There is no answer at this time. |
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Subject:
Re: Charitable giving through Amazon wishlists - tax deductible for buyer?
From: mprins-ga on 18 Oct 2006 08:12 PDT |
The allowed tax deduction on any item is the cost of the item minus the "fair market value" of the item. If the purchasers are paying the same amount through the wishlist as they would through Amazon's normal website, they would not be allowed to take any tax deduction. For example, on one PBS station's website: "WGTE Public Broadcasting is a 501 (c) (3) nonprofit organization. Your contribution to the stations is fully tax-deductible minus the fair-market value of any gifts you receive." (http://www.wgte.org/members/memberfaqs.asp) |
Subject:
Re: Charitable giving through Amazon wishlists - tax deductible for buyer?
From: cssdev-ga on 19 Oct 2006 21:52 PDT |
Thanks for you comment. I think this is a different situation than the one with PBS. Visitors to our site would be purchasing gifts for the organization, from their wishlist. In other words, the people buying the items wouldn't be receiving any type of gift. A bigger part of my question is whether or not Amazon provides the ability for the buyer to obtain documentation, to include the organization's tax information, the amount of the purchase, and whatever else necessary for the donor to have on file for their taxes. |
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