September 4, 2012
Tax Deductions For Organ Donations
If you are not an organ donor, would knowing that you could receive a tax break if you donated an organ change your mind? This, of course, assumes that you live a state that offers this type of tax incentive. In about one-third of the states, a person who chooses to donate an organ, which can include bone marrow, can take a $10,000 tax deduction. Most of the states that provide this incentive offer $10,000 as the amount for the deduction. These "states are Arkansas, Georgia, Idaho, Iowa, Louisiana, Maryland, Massachusetts, Minnesota, Mississippi, New Mexico, North Dakota, Ohio, Oklahoma, South Carolina, Utah, Virginia and Wisconsin." Unfortunately, the tax deduction does not cover most of the costs associated with donating a organ. This is probably the main reason why this tax deduction will not increase the number of people that are organ donors.
See Kelly Phillips Erb, A Kidney For A Tax Break?, Forbes, Sept. 2, 2012.
Special thanks to Brian J. Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
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