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Payments For College Athletic Seating Rights

Payments For College Athletic Seating Rights

For donations made in tax years beginning after December 31, 2017, no charitable deduction is allowed for payments to institutions of higher education in exchange for which the payors receive the right to purchase tickets or seating at an athletic event.

Background: Under old tax law, special rules applied to certain payments to institutions of higher education in exchange for which the payors receive the right to purchase tickets or seating at athletic events. The payors could treat 80% of the payments as charitable donations where:

(1) The amounts were paid to or for the benefit of institutions of higher educations; and,

(2) Such amounts would be allowable as charitable donations but for the fact that the taxpayers receive as a result of the payments the right to purchase tickets for seating at athletic events in an athletic stadium of such institutions.

 

Zaher Fallahi, Tax Attorney, CPA, is a Tax Controversy Attorney, and defends taxpayers in resolving their Income Tax and Offshore Accounts (FBAR and FATCA) problems. Telephones: (310) 719-1040 (Los Angeles), (714) 546-4272 (Orange County), e-mail taxattorney@zfcpa.com

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