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My daughter wa nted $15000 to pay off her credit cards.my…

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My daughter wa nted...

My daughter wa nted $15000 to pay off her credit cards.my gross distribution I withdrew from my 401k was $16,666.66 and withheld $1,666.66 for federal tax.I received a 1099-R on the gross distribution.could i possibly use the total amount as a gift to chairity?

Accountant's Assistant: The Accountant will know how to help. Is there anything else important you think the Accountant should know?

When I was doing my taxes on turbo tax ihad finished putting in two 1099-R and my ssa-1099 and I was getting back 948.00 but when I puast in the last 1099-R it showed that I owed $1,650.just wondered if I could list the money I gave to my daughter as chairity

Submitted: 19 days ago.Category: Tax
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3/31/2018
Tax Professional: Dr. Fiona Chen, Certified Public Accountant (CPA) replied 19 days ago
Dr. Fiona Chen
Dr. Fiona Chen, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 923
Experience: Former IRS Revenue Agent
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I'm Fiona, former IRS revenue agent. I am looking at your question and will get back to you soon. Fiona Chen, MPA, Ph.D., CPA, ABV, CFF, CITP,IMTA

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Tax Professional: Dr. Fiona Chen, Certified Public Accountant (CPA) replied 19 days ago

Dear Customer,

Tax deductible charities need to have been given to tax exempt status according to IRC code 501(c)(3) organizations, religious, and other qualified organizations.

https://www.irs.gov/charities-non-profits/organizations-eligible-to-receive-tax-deductible-charitable-contributions

Gifts to individuals and/or relatives are not tax deductible.

Regards,

Fiona

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