Longhorn Foundation Donation Tax Form

[Borachio]

I know 80% of my donation to the Longhorn Foundation is tax deductible. What tax form do I need to fill out and where on my 1040 do I claim it.

Oh and I know very little about taxes.

 

[texascoder]

You claim it as an itemized deduction (assuming that you have enough deductions to itemize). I'm pretty sure the LHF will send you a tax receipt for your donation. I seem to remember that they have done that in the past.

BTW... Unless you have a fairly simple income tax situation (no itemized deductions, etc.), a copy of TurboTax would be the best $50 you've ever spent

 

[Borachio]

Thanks for the reply. Yeah I don't have enough deductions to itemize so I will just take the standard deduction.

 

[Wild Bill]

I also recommend TurboTax. Fairly easy to use unless you are Timothy Geitner.