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After you make a donation to your chosen SGO they should provide you with an acknowledgement (receipt) of your donation. You or your tax-preparer should attach the acknowledgement to your Ohio 1040 IT tax form and keep it in you records to substantiate any federal tax deduction claimed.
A Scholarship Granting Organization (SGO) is a non-profit 501 (c) (3) organization that receives contributions from donors and grants educational scholarships to eligible students in Ohio. Individuals and entities that contribute to SGOs participating in the program can receive a tax credit.
Ohio taxpayers may claim, dollar for dollar, up to $750 per person, as a nonrefundable tax credit on their Ohio Individual Income Tax Return (Form Ohio IT 1040). A married couple filing jointly can claim a combined credit of up to $1,500.
Oct 10, 2023 · We’ve compiled a list of companies that frequently donate to nonprofits. We’ll give you an overview of the mission affinity and historical donation patterns of each organization, as well as links to learn more about their charitable giving programs and apply for funding.
New Ohio tax legislation in 2021 makes it possible for individual taxpayers to receive a credit toward their Ohio state income tax liability. Here’s how it works: First, a donation is made to a Scholarship Granting Organization (SGO), which then qualifies the donor to receive 1:1 credit toward their state tax liability.
Donate to the SGO securely on this site or by check mailed to the address below (fill out a Donation Form and include it with your check). You may designate your contribution to a specific participating school or to a specific family enrolled in a participating school.
People also ask
How do I claim a tax credit if I give a donation?
Can I claim a tax credit if I donate 750?
Can I claim a state tax credit if my spouse donates?
How do I make a donation?
Individual taxpayers and pass-through entities can claim a credit for monetary donations made to an eligible scholarship granting organization (SGO). The credit equals the lesser of $750 or the total amount donated to SGOs during the tax year.
