Maybe this is a silly question, but if I pay extra for something for a charity, the difference is tax deductable. For example, If I buy at a boy scout auction a cake worth 5 bucks and I paid 20, $15 is considered a tax deductable donation. My question, since the boy scout commemorative coin carries with it a $10 surcharge to be donated to the Boy Scouts of America, is that $10 deductable? Just curious. Any tax experts/accountants here?
Saw the same question come up on the Coin Update web site as well, see the comments section. Their staff said, Perhaps you can call the Mint's order line / customer service to inquire and let us know what they say.
The surcharges on mint purchased commems are specifically not charitable deduction, as defined by statute.
I would listen to Treas. He does taxes for people whos last names end in vowels so if there is a loophole, he knows about it.
If it's a tax deduction you want, just donate that coin to the Salvation Army. Then you can write off the entire coins price. Or send it to me and write it off as a loss.:goofer:
nope, it has been mentioned dozens of times in Coin World as specifically excluded. Here is a short mention in this newspaper article.\
My last name ends in a vowel, will you do my taxes next year? Regards, Stan aeiou (funny that is only two letters off, lol)
