5000 Delta Miles for $100 Donation
Jan 15, 2010 | 9:40 am
#16
Join Date: Jan 2009
Location: NYC
Posts: 187
Although the IRS won't count miles as income, that doesn't mean they won't take it into account when determining whether a donation falls under the charitable contribution deduction. Unless I'm wrong. Any CPA should feel free to correct me.
Jan 15, 2010 | 12:24 pm
#17
Join Date: Jan 2005
Location: San Diego
Programs: Marriott Rewards Silver Elite, AA Lifetime Plat 4.5M, DL Medallion Lifetime Silver, DL MillionMiler
Posts: 1,263
Jan 15, 2010 | 1:40 pm
#18
Join Date: Jan 2005
Programs: UA GOLD MM,WN CP A+list, HH Gold,MR LT Titanium
Posts: 2,184
Jan 21, 2010 | 10:02 am
#19
Join Date: Jan 2010
Location: LAX - san fernando valley, CA
Programs: DL PM, Alaska Gold MVP, Expedia Elite Plus, Amex Reserve.
Posts: 1,156
Did anyone actually got the 5000 miles, I dont want to donate if im not getting the miles, plus I called DL, and they dont have any idea if the 5000 donations have hit the threshold
Jan 29, 2010 | 1:03 pm
#21
Join Date: Sep 2007
Location: SAN/LAX
Programs: WorldPerks, Mileage Plus
Posts: 42
IRS: All Charitable Contributions are reduced by Fair Market Value of benefit received
My opinion as well as other professionals: You can not possibly put a reasonable estimate on FMV of 5,000 as it would differ in each flight used to book
My stance as a CPA: Full deduction
So, if you tax bracket is 25% and you itemize your deductions, this only costs $75
My opinion as well as other professionals: You can not possibly put a reasonable estimate on FMV of 5,000 as it would differ in each flight used to book
My stance as a CPA: Full deduction
So, if you tax bracket is 25% and you itemize your deductions, this only costs $75
Jan 30, 2010 | 12:32 pm
#24
In Memoriam
Join Date: Apr 2001
Location: dallas texas usa
Programs: aa plt 4.9MM LTAC
Posts: 14,828
re taxes.....if you get the mi's, then perhaps you owe some tax!....in a prior post, it was stated that dl values mi @ .028, so you have gained $40 if you gave $100.....so, who's going to declare it?.....good luck to all...
Feb 1, 2010 | 11:30 am
#25
Join Date: Dec 2009
Location: Indianapolis
Programs: Delta, Starwood, Hyatt
Posts: 123
I made a donation through a link on Delta.com last week. I searched their site and found no mention of a minimum amount for the donation (or any rules for that matter) so I donated $5. I expect to get the 5,000 miles.