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If my mother, sister and I pool our money to make a tax deductible

donation to a college athletic...
If my mother, sister and I pool our money to make a tax deductible donation to a college athletic program (80% tax deductible due to benefit of eligibility for football tickets), is there any way we can share the deduction 3 ways even though it is made (and recorded by the school) in only 1 of our names? (what if that person certified via a letter/document that the contribution was made using combined funds from the 3?)
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Answered in 3 minutes by:
3/30/2011
Chea Romine
Chea Romine, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 197
Experience: CPA, Managing Partner of medium sized CPA firm specializing in all areas of tax and accounting.
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Chea Romine : As long as you can prove to the IRS if asked that you paid the Contibution it would be allowed. It would not matter how the schools records it.
Chea Romine : Ideally you should each write separate checks to the school.
Customer:

Thanks. The school only accepts 1 check from the person named on the account. Could I use a check or record of a deposit made to me from my 2 family members in the amount of 1/3 the donation each, with some note on their check to me that this $ is to be used by me to make the total contribution to the school?

Chea Romine : I think that is really a grey area and pushing the limit. It is highly unlikely the IRS will question it, but if they did they could determine they were gifts to that one person. Another idea is have the person in the highest tax bracket make the contribution and claim the entire deduction then reimburse the other two based on the taxes they would have saved if they deducted. You might come out better as a whole that way.
Customer:

Thank you! I will do that. I'm in the highest tax bracket and I can pass the "benefit" of the deduction back to the other 2. Much appreciated!

Chea Romine
Chea Romine, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 197
Experience: CPA, Managing Partner of medium sized CPA firm specializing in all areas of tax and accounting.
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Chea Romine
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