Can a donation on credit that has since been retired be deducted?

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  • Can a donation on credit that has since been retired be deducted?


Answer #1 | 20/12 2013 04:06
"She never pays that charge and instead declares bankruptcy and wipes out the debt on the MasterCard" This become Income to her.
Positive: 82 %
Answer #2 | 20/12 2013 09:02
when she charged to donation on her charge card, it was then transmitted to the organization who would have sent her a letter recognizing her donation which she can claim in her Sch A now her debt is to the credit card company(who actually sent the money to the organization) and when she lists her obligations for b/k it is the credit card company she will list
Positive: 76 %
Answer #3 | 20/12 2013 21:49
Yes. Think of it exactly the same as if she donated $1000 of rent money, then paid the rent with a $1000 cash advance on the credit card. Only question I see is if she ran up the credit card full knowing she was about to declare bankruptcy. That could be fraud.
Positive: 56 %

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