boozer@atlas1.UUCP (Glenn Boozer) (03/04/86)
I had a grand time at many Symphonies and Operas last year. What part, if any, of the ticket price is tax deductible? Thanks, gab ===== | | | B | +===============================================+ / O \ + Glenn Boozer [Yep! That is my real name!] + / O \ + ACCELERON (408) 744-0800 + | Z | + 1290 Lawrence Station Rd, Sunnyvale, Ca 94089 + | E | + amdcad!cae780!leadsv!atlas1!boozer + | R | + + ========= +===============================================+
gordon@cae780.UUCP (Brian Gordon) (03/04/86)
In article <249@atlas1.UUCP> boozer@atlas1.UUCP (Glenn Boozer) writes: >I had a grand time at many Symphonies and Operas last year. >What part, if any, of the ticket price is tax deductible? In general, the same proportion as movie or boxing tickets -- zilch. If, however, the tickets were part of a fundraising for a non-profit organization (such as the symphony or opera), then the excess over the fair market value is a tax deductable contribition. Thus, if you pay the "normal" say $35 for a ticket, that has no tax implications. But is you pay $100 for the same ticket at a fund-raising "gala", you have made a $65 cash contribution. Disclaimer: taxpayer, not tax lawyer or tax accountant speaking ... FROM: Brian G. Gordon, CAE Systems Division of Tektronix, Inc. UUCP: tektronix!teklds!cae780!gordon {ihnp4, decvax!decwrl}!amdcad!cae780!gordon {hplabs, resonex, qubix, leadsv}!cae780!gordon USNAIL: 5302 Betsy Ross Drive, Santa Clara, CA 95054 AT&T: (408)748-4817 [direct] (408)727-1234 [switchboard]
kdj@teddy.UUCP (03/05/86)
I believe that you can deduct an opera/symphony ticket: IF it meets the charitable contributions laws defined by the IRS AND you donated that ticket to the charity (you didn't go). You can deduct the portion of the ticket that was donated to a charity (on your behalf thru the ticket seller). The portion that was donated to the charity should've been defined when you bought the ticket. Disclaimer: I am in no way affiliated with the IRS or any tax return processing agency. My comments above come from reading Lassers book on filing your tax return.