Charitable donations in a loved one's name


#1

If a donation is made to a charitable organization in a loved one’s name, does that mean they get to take the tax write-off?


#2

If the organization states that donations are tax-deductible, then, yes, the donor gets to take the tax write-off. We’ve done that many times before. There’s nothing wrong with making a donation in someone else’s memory or in honor of someone, and then taking the tax write-off. At least I can’t see anything wrong with it.


#3

I guess what I was getting at was that if the person whose name I was giving in got the tax write-off rather than me, then it would be an even better gift. I could give a sizeable donation and the person whose name I’m giving in could get a nice tax write-off.

Conversely, rather than sending a gift list to family members who ask, I could send them a list of charities that they could give to in my name and then I could get a tax write-off.


#4

[quote=milimac]If a donation is made to a charitable organization in a loved one’s name, does that mean they get to take the tax write-off?
[/quote]

IRS rules are very clear. The person giving the asset (cash or otherwise) is the only person ABLE to take the deduction.


#5

[quote=milimac]I guess what I was getting at was that if the person whose name I was giving in got the tax write-off rather than me, then it would be an even better gift. I could give a sizeable donation and the person whose name I’m giving in could get a nice tax write-off.

Conversely, rather than sending a gift list to family members who ask, I could send them a list of charities that they could give to in my name and then I could get a tax write-off.
[/quote]

The only way you could work this would be to “gift” the money to the person in who’s name you want to give the money and hope they turn around and contribute it to the charity you designated. It has to be their money for them to take the deduction.

You can gift up to11,000 a year to a person without having to go though the hassle of filing a gift tax return. Also please note that when you “gift” money to people you dont get a deduction for it-conversely they dont have to show it as income


#6

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