Does the IRS want blood? — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
  • LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

Does the IRS want blood?

Get PDF file

by on
in Small Business Tax

Q. If I donate blood to a nonprofit, can I take a charitable deduction for its value? A.C., W. Babylon, N.Y.

A. No. The IRS says you can’t deduct any donation of blood or other body parts although some states offer tax incentives for such charitable contributions. The rationale: Because you’re performing a service instead of giving away property, no deduction is allowed. This is the same reasoning preventing deductions for other charitable services. However, like other charitable volunteers, you can deduct out-of-pocket expenses like transportation via your own vehicle, bus, rail or taxi.

Tip: In lieu of deducting actual travel expenses, you can use a flat rate of 14 cents per mile (plus related tolls and parking) for 2014.

Related Articles...

Leave a Comment

Previous post:

Next post: