Make a Donation to Help Reduce the US Public Debt. Wait, What?

guan 14 years ago |

You can also make a general donation to the US government, that is not necessarily used to reduce the debt:

http://www.fms.treas.gov/faq/moretopics_gifts.html

meric 14 years ago |

They should make it tax-deductible. ;)

veyron 14 years ago | |

It is deductible for the next year's returns

meric 14 years ago | | |

What about the clause "These donations are voluntary, and no goods, services, or other considerations are provided to the donors."?

veyron 14 years ago | | |

go to page 88 (the one with - 88 - at the bottom) of the 1040 instructions at http://www.irs.gov/pub/irs-pdf/i1040gi.pdf

There is a section "How Do You Make a Gift To Reduce Debt Held By the Public" and it clearly states "You may be able to deduct this gift on your 2012 tax return".

You can't take a deduction for the 2011 tax year on a gift in 2011, but iirc its treated like any other donation

smcguinness 14 years ago |

I just bookmarked this. They need to have something like this added to tax forms. I'd much rather 'donate' my money to the debt than the Presidential election fund or whatever other things they ask if I'd like to contribute to.

nyet 14 years ago |

are you fucking kidding me? if the system is leaking memory and the solution is to add memory?