✨Dining

Another answer from Turbo Tax's forum. I gave an example of paying $250 and getting $450 in credits. Then spending $300 of $450 in credits leaving $150 unspent.

"Even if a qualified charity. what you are contributing is ordinary income property. The amount you can deduct for a contribution of ordinary income property is its fair market value minus the amount that would be ordinary income or short-term capital gain if you sold the property for its fair market value. Generally, this rule limits the deduction to your basis in the property. It is unknown what the IRS would deem your basis in the unspent $150. it could be $0. or it may be proportional $250/$450 * $150 = about $83."  

Linda Kilcrease

Resident of a CCRC

I posted a question for this at Turbo Tax forum - food credits as a donation. Aside from all the points to be sure you are eligible to take a deduction (standard versus itemized, a non-profit is not necessarily a recognized IRS charity, etc.), the answer was, "you are not paying more for the meals than the out of pocket amount you paid---so no extra actual money was paid for the meals - you did not really "donate" anything--you just did not use up your whole allowance--which was for more than you really paid."

Linda Kilcrease

Resident of a CCRC

I am a lawyer, but not a tax lawyer. You need to contact either a tax lawyer or the person who prepares your taxes. A CPA can advise you too.

We are receiving 460 a month credit for dining for 30 days for each resident. Our dining rooms are closed for diner but open for breakfast and lunch in our Bistro. We have pickup for dinner. We have had hiring and employee issues but after raising the starting wages it has improved. Our food quality has been poor for a long time now and residents are forced to cook or go out to eat to be satisfied for daily nutrition. Therefore many residents are unable to use the monthly meal credits and the unused funds flow back to the CCRC. A few resident are wondering if we couldn't take the unused credit and make it a donation to the non-profit CCRC and take it as a deduction on our taxes? Comments appreciated.