How to Deduct Donated Music Performances on Income Tax Forms
You cannot deduct the actual musical performance when you are doing your taxes, but there are other items you may deduct in connection to the musical performance. In order to deduct a charitable contribution, you need to itemize your deductions on Schedule A. If the contributions other than cash are more than $500 during the year, you need to file Form 8283 with your tax return. You cannot deduct services, but you can deduct any donations and driving.
Instructions
- 1
Determine what is deductible from the concert. Some examples could be the miles you drove to the concert and if you gave any music instruments away after the concert to the charity. The actual time you performed on the concert is not a charity donation and therefore not deductible.
2Review Form 8283. The form is pretty self-explanatory. The main part to note on the form is that some items need to be appraised before you can take the deduction. It is important to review the form and discuss the charitable implications of any donations with the charity. You should also get a receipt from the charity to acknowledge your gift and how much to put on your return.
3Keep a log of the miles you drive for the charity. The IRS can request a log of miles driven. For charities, you can receive 14 cents per mile driven.
4Complete Form 8283. Most of the information will come from the charity and any appraisers you require.
5Write the total amount of your donations, through musical instruments and any miles driven in relation to the concert on Form 1040 Schedule A. Be sure to put the amount under donations that are other than by cash.
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