no matter how poignant the cause may be, your donation still is not deductible.' 'I have to be donating to a qualified 501(c)(3) charity. The world may have changed in 2020, 'but the rules about charitable contributions have not,' said Jackie Perlman, tax principal & research analyst for The Tax Institute at H&R Block. Giving money to an online fundraiser to help those in need or to fund a creator's project on platforms like Kickstarter is not going to be tax deductible unless the money raised is going to an IRS-designated charitable organization known as a 501(c)(3). StormTracker Early Warning Radar Networkīut donors shouldn't assume their contributions are tax deductible.Īnd fundraising organizers should not assume the money they have raised won't be taxable.
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