Skip to main content
April 20, 2025
Question

Qualifying for a deduction?

  • April 20, 2025
  • 1 reply
  • 0 views

I’m in a pageant and I’m looking for sponsors for my personal cost that this pageant brings. A business is interested in personally giving me 10k as my sponsor. I would like to know if they’re eligible for a tax deduction? If so what kind, and what do I need to give them in order for them to do so? A receipt or a specific form?

1 reply

April 21, 2025

You don’t have to give them anything. They have to document the payment themselves and make the case to the IRS that the sponsorship served a legitimate advertising purpose.