Saturday, August 21, 2010

Can the parents of an athlete training at an olympic facility deduct money to the Commitee?

Obviously the athlete is benefiting from working with olympic trainers and using their facility, but if the Olympic Training Commitee is a Sec 501(C)(3) non-for-profit, then could an athletes parents make tax deductable donations to the commitee even though their kid is benefiting from the training?Can the parents of an athlete training at an olympic facility deduct money to the Commitee?
As long as the money isn't specified in any way as being for their kid, yes they can deduct it.

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