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Originally Posted by notsosmart
(Post 13186768)
Yup yup...
Speaking of taxation of miles: I thought that one doesn't have to declare the value of miles received? The IRS doesn't count miles as income? Or am I wrong here? |
Originally Posted by paramount
(Post 13186244)
Haiti is probably a more pressing issue to donate towards and one worthy of donating even without the prospects of earning miles.
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Originally Posted by maltasr
(Post 13187960)
I couldn't agree more with your sentiment. However, Delta certainly has sweetened the pie with this generous offer.
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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:mad:
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I dont think we should donate to get damn 5000 miles but to help these poor people. BTW. We donated 190.000 MP miles
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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 |
10 days after donation and still no miles :mad: maybe i was 5001 donor and did not qualify for the 5k miles eerrrrr
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Since it is devalued DL miles on offer, maybe it would be appropriate to send them Zimbabwe dollars! One very devalued currency for another!
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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...
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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.
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