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Is IPTAY tax deductible if we dont buy tickets for any game?
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Is IPTAY tax deductible if we dont buy tickets for any game?


Jul 20, 2020, 8:44 AM

My understanding is that the new tax law did away with deductions where the right to buy tickets directly or indirectly was part of that donation. If we do not play a season of any sport and no tickets are purchased does that make the IPTAY donation tax deductible?

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Re: Is IPTAY tax deductible if we dont buy tickets for any game?


Jul 20, 2020, 8:46 AM

Should....

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No it's not tax deductible


Jul 20, 2020, 9:43 AM

You still get priority points for the IPTAY donation and that is linked to seating preference even if you don't exercise the right to get season tickets and parking this year.

"A looming question is how the repeal affects priority points—the loyalty rewards that determine a donor’s place in the fan pecking order. Points accumulate over years, and the more points a donor has, the closer he can move toward the coveted 50-yard line or the more extra tickets he can secure for a rivalry game.

A key phrase of the law says contributions aren’t deductible if they could lead 'directly or indirectly' to a right to purchase seats."


https://www.wsj.com/articles/forget-the-playoff-college-footballs-burning-question-is-about-taxes-1542364201

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Re: No it's not tax deductible


Jul 20, 2020, 10:08 AM

What if you donate and buy tickets to give to clients for entertainment? I had a friend who always set up a hospitality tent just outside of Littlejohn hosted anybody that came by with sandwiches, beer, etc. and had a pocket full of tickets. I'm not sure that he ever went inside of the stadium for a game. After halftime, he would pack up and leave ...... not even a Tiger fan, but all of his clients were.

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I have no idea about business income taxes


Jul 20, 2020, 12:01 PM

My comment was with respect to personal income taxes. I won't even speculate.

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I'm good enough, I'm smart enough, and doggone it, people like me.


Possibly


Jul 20, 2020, 10:36 AM

I believe you can elect not to receive priority points or any benefit from the contribution and thus make the gift deductible. This would in essence be a gift to Clemson Fund directed toward IPTAY scholarships with an election not to be credited with any priority points.

The ability to deduct cost of entertainment (tickets, food, etc.) has been significantly scaled back as well so expense to take clients/customers to games is generally not tax deductible.

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The big question is "Is it deductible if no tickets can be?


Jul 20, 2020, 10:54 AM

The big question is "Is it deductible if you no longer have an option to buy any tickets?".

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