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Itemized Deductions Schedule-A


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Old 02-04-2018, 02:34 AM
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Deductions and Rebates

Hello --
Hypothetically, let's say that I purchase a computer for $500, then the next month the store gives me $450 in store credit (to only be used at their store) for purchasing that computer.
The computer was purchased so it could be donated to a 501(c)3 non-profit.
Since I have a receipt showing $500 paid, am I able to legally claim this as a $500 donation?
I have tried researching this, and have not been able to come up with any solid answer. Please point me to any information that pertains to this situation.
Thanks!



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Old 02-04-2018, 09:29 AM
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Since I have a receipt showing $500 paid, am I able to legally claim this as a $500 donation?=======>>>>>>Essentially Unless you or the computer store tells it to the IRS, the irs does not know the store c redit and actuall either of you does not need to tell the cedit to the IRS. So unless you do this, you may claim the wholeof $500 on your SCh A of 1040 on your return.
I have tried researching this, and have not been able to come up with any solid answer. Please point me to any information that pertains to this situation.========.>as mentioned previously. So as said it is up to you/ the store if either of you tells the credit to the IRS.



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