5000 Delta Miles for $100 Donation
Jan 14, 2010 | 6:34 pm
#1
Original Poster
Join Date: Jan 2010
Posts: 70
5000 Delta Miles for $100 Donation
Just got an email on this today. Go to http://www.mlkmemorial.org/ You can get 5,000 Delta miles for a $100 donation. Limited to first 5,000 donations.
Not looking for more Delta miles personally, but need to pay forward an idea to FT.
Not looking for more Delta miles personally, but need to pay forward an idea to FT.
Jan 15, 2010 | 7:49 am
#4
Join Date: Nov 2007
Programs: Mile-High Club, Marriott Plt, SPG P-75, PC Plt, Hyatt Dia, Carlson Gold, BW Dia
Posts: 1,845
Well, Delta values miles at $0.028 per mile (that's what they sell them for, not counting any bonus offers). Under this offer, you obtain miles at $0.020 each. Therefore, you are receiving $40 worth of "free" miles. So, you OWE taxes on $40.
Jan 15, 2010 | 7:55 am
#5
Join Date: Aug 2007
Posts: 740
Just got an email on this today. Go to http://www.mlkmemorial.org/ You can get 5,000 Delta miles for a $100 donation. Limited to first 5,000 donations.
Not looking for more Delta miles personally, but need to pay forward an idea to FT.
Not looking for more Delta miles personally, but need to pay forward an idea to FT.
Jan 15, 2010 | 7:57 am
#6
Join Date: Dec 2006
Location: IND
Posts: 2,046
Jan 15, 2010 | 8:12 am
#8
Join Date: Jan 2009
Location: NYC
Posts: 187
Jan 15, 2010 | 8:20 am
#9
Join Date: Dec 2006
Location: IND
Posts: 2,046
Yeah, I'm an amateur in this field, but turbotax always disregard my donations for the last couple of years (a few hundred bucks each year) saying "standard deduction" is bigger than itemized deduction. So I don't expect any tax return from my little donations.
Jan 15, 2010 | 8:26 am
#10
Join Date: Jan 2009
Location: NYC
Posts: 187
To answer the poster above: I wouldn't deduct this as a charitable contribution. You shouldn't really be getting anything in return for your contribution. Charitable contribution deductions are also scrutinized by the IRS more closely than other items on the tax form, so I wouldn't risk setting of alarm bells over a $100 deduction.
Jan 15, 2010 | 8:34 am
#11
Join Date: Dec 2006
Location: IND
Posts: 2,046
Yeah, if you're taking the standard deduction, you won't get to deduct your donations. But there are several reasons that would cause you to itemize (the biggest one is deducting interest on a mortgage). If you're itemizing, you can deduct any amount of charitable contribution. Just wanted to make sure nobody was discouraged from donating to this cause in general.
Jan 15, 2010 | 9:06 am
#14
Join Date: Jan 2005
Programs: UA GOLD MM,WN CP A+list, HH Gold,MR LT Titanium
Posts: 2,184
Read a bit more closely-Delta has not yet come on board with Haiti donations.This link is for a MLK memorial-IMHO,much less pressing than humanitarian aid.
Jan 15, 2010 | 9:23 am
#15
FlyerTalk Evangelist
Join Date: Oct 2002
Location: Currently in Bloomington, IN, but Normally NYC, CDG, and even POZ or wherever FT takes me.
Programs: Northwest Airlines. MTA pay-per-ride Metrocard; zero-balance Oyster card.
Posts: 14,083
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?