If an individual donor itemizes deductions, can they take a charitable income tax deduction on their federal income tax return for the amount of the contribution to GCSSF?
Yes. • If I re-direct some of my Georgia income tax payment to GCSSF, can I designate that it be used to provide scholarships for students who will be attending a specific Partner School? Yes, by placing the Partner Schools name on the memo line of your contribution check, at least 90% of the donation will be allocated toward GCSSF scholarships to that Partner School. • If I re-direct some of my Georgia tax payments to GCSSF, can I designate the student who will benefit from the financial assistance? No. GCSSF does not accept donations designated for specific individuals. However, a donor to GCSSF may designate a Partner School as noted above. If so designated, the financial aid committee at the Partner School will have the discretion of deciding which qualified recipients will be recommended to GCSSF for the receipt of the GCSSF scholarships. • What is the deadline for making contributions that qualify for the tax credit? How is the contribution made? In order to ensure approval of an
Related Questions
- What is the effect on the charitable contribution deduction if a taxpayer made a disclaimer, or a partial disclaimer, of his or her required final annuity distribution from a CRT?
- If an individual donor itemizes deductions, can they take a charitable income tax deduction on their federal income tax return for the amount of the contribution to GCSSF?
- Does a taxpayer who participates in the settlement initiative lose the charitable contribution deduction received for funding a CRT?
