3 ms·

It is deductible for the next year's returns

• meric 15y ago
  What about the clause "These donations are voluntary, and no goods, services, or other considerations are provided to the donors."?
  • veyron 15y ago
    go to page 88 (the one with - 88 - at the bottom) of the 1040 instructions at http://www.irs.gov/pub/irs-pdf/i1040gi.pdf http://www.irs.gov/pub/irs-pdf/i1040gi.pdf There is a section "How Do You Make a Gift To Reduce Debt Held By the Public" and it clearly states "You may be able to deduct this gift on your 2012 tax return". You can't take a deduction for the 2011 tax year on a gift in 2011, but iirc its treated like any other donation