Quote:
Originally Posted by nthole
Legitimate question. If you placed and didn't get paid, is that considered a tax deductible donation since this was a 501c org? Essentially you gave them the money back by never getting it. I would assume the contest cost isn't because, even though you didn't receive the 'something of value' promised, you did actually have the opportunity to since some places were paid. Where's the accountants in the house?
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I'm not an accountant but it makes perfectly good sense. However, if audited, documenting it might be problematic.
