Race Entry Fees -- Tax Deductible? (Read 1066 times)

Are race entry fees for charities tax deductible? Do I need to get a receipt or does a copy of the check suffice (the entry fees were less than $30 each)? I think you only need to provide charitable contribution receipts for items over $250, if I remember correctly?

The IRS says that a copy of the cancelled check is sufficient. But I would be careful as the entire amount may not be going to the charity. Also, there is some mumbo jumbo in the IRS rules about receiving goods for your donation (read: tshirt) that may affect how much you should deduct.

Mike is right. Charitable contributions are deductible for the amount of the contribution made, less the fair market value of anything you received in return (defined broadly as "consideration"). The contribution also has to be to an actual organization, so not all donations qualify. If the donation was to an actual organization, you'd have to be able to quantify how much of your actual entry fee eventually went to that organization.