Are Nonprofit Raffle Ticket Donations Tax-Deductible?
Under Internal Revenue Service tax laws, taxpayers may claim tax deductions for charitable donations of cash and property to qualified nonprofit organizations, which are those granted 501(c)(3), or tax-exempt, status by the IRS. The IRS requires tax-exempt organizations to operate solely for one or more exempt purposes, which include charitable, educational, religious and literary. The IRS provides specific instructions concerning the treatment of nonprofit raffle ticket purchases and charitable tax deductions.