I just got this:
As you may be aware, the recent changes in tax law (Tax Cuts and Jobs Act (H.R. 1)) eliminated the tax deduction for donations made for the right to purchase seating at college or university athletic events. As of January 1, 2018, Cougar Pride members are no longer able to deduct 80% of their “Football Per Seat” donation(s). In the case of pledges made in prior years which entitled you to purchase seating, payments received in 2017 will still be deductible at 80%. However, the IRS will not allow deductions for payments made after 2017.
“Football Per Seat” donations will now be known as “Football Per Seat” commitments that will still be recognized in your Cougar Pride giving level and allow you to accrue priority points. The same will hold true for the upcoming “Basketball Per Seat” commitments in the Fertitta Center. Click HERE for more information regarding Cougar Pride giving levels and HERE for more information regarding priority points.
This change in law does not impact other donations made to Houston athletics where the transaction does not include a right to purchase seating; such as Cougar Pride “Unrestricted”, Sport-Specific (i.e. 46ers, Dugout Club) or Capital Campaign (i.e. TDECU Stadium, Fertitta Center) donations.
The university, its employees or representatives do not offer legal, financial, or tax advice. We encourage you to consult your attorney, financial advisor, accountant or other appropriate professional to determine whether and to what extent your gifts are tax deductible.
As you may be aware, the recent changes in tax law (Tax Cuts and Jobs Act (H.R. 1)) eliminated the tax deduction for donations made for the right to purchase seating at college or university athletic events. As of January 1, 2018, Cougar Pride members are no longer able to deduct 80% of their “Football Per Seat” donation(s). In the case of pledges made in prior years which entitled you to purchase seating, payments received in 2017 will still be deductible at 80%. However, the IRS will not allow deductions for payments made after 2017.
“Football Per Seat” donations will now be known as “Football Per Seat” commitments that will still be recognized in your Cougar Pride giving level and allow you to accrue priority points. The same will hold true for the upcoming “Basketball Per Seat” commitments in the Fertitta Center. Click HERE for more information regarding Cougar Pride giving levels and HERE for more information regarding priority points.
This change in law does not impact other donations made to Houston athletics where the transaction does not include a right to purchase seating; such as Cougar Pride “Unrestricted”, Sport-Specific (i.e. 46ers, Dugout Club) or Capital Campaign (i.e. TDECU Stadium, Fertitta Center) donations.
The university, its employees or representatives do not offer legal, financial, or tax advice. We encourage you to consult your attorney, financial advisor, accountant or other appropriate professional to determine whether and to what extent your gifts are tax deductible.
