To get season tickets to watch most Division I sports powerhouses play football and basketball, you have to give a mandatory “donation” in addition to paying for the tickets. These donations are among the over $ 1 billion a year that people donate to college sports departments. But did you know that individuals can currently deduct 80% of that donation? That may be ending.
The new Republican tax bill, reportedly to be voted on this week, ends the “booster club” deduction. It’s expected to bring the U.S. government MarketWatch.com – All MarketWatch News – Personal Finance