Can I Donate to More Than One SGO?
Yes! You can donate to as many eligible Scholarship Granting Organizations (SGOs) as you'd like.
However, the federal tax credit limit of up to $1,700 per individual applies to your total qualifying contributions across all SGOs, not to each SGO separately.
How Does the $1,700 Tax Credit Limit Work?
For example, if you make the following donations:
SGO 1: $1,000
SGO 2: $700
Total qualifying contributions: $1,700
Your combined qualifying contributions would be $1,700.
ℹ️ Good to Know: The $1,700 federal tax credit limit applies to your total qualifying donations, even when you contribute to multiple SGOs.
Is the FSTC a Federal or State Tax Credit?
The Federal Scholarship Tax Credit (FSTC) is a federal tax credit, not a state tax credit.
Eligible donors may claim the credit on their federal income tax return when they make qualifying contributions to approved SGOs in participating states.
Although states must opt in to participate in the program, the tax credit is administered at the federal level.
How Can I Learn More About My Tax Benefits?
The main benefit to taxpayers is the opportunity to receive a federal income tax credit for qualifying donations to eligible SGOs.
To understand how the credit may apply to your individual tax situation, speak with a qualified tax professional.