Individual Donor FAQ
All students can be recommended by donors for the Individual Original Tax Credit. PSTF123 awards a minimum of 90% in scholarships, monthly.
How can I donate as an INDIVIDUAL?
*Online at our secure website www.PSTF123.org * By phone at 602-466-8503 * By check, print and fill out the donation form, and mail to PSTF123. Please contact us if you have any questions or need help making your donation.
When can I donate?
PSTF123 accepts donations throughout the year. Donations must be made prior to filing your taxes but no later than April 15. You may choose to claim the tax credit for the previous or current tax year.
How much can I donate?
You can donate up to the combined maximum of the Original ARS 43-1089 and Switcher ARS 43-1089.03, or your Arizona tax liability, whichever is less and receive a DOLLAR-FOR-DOLLAR state tax credit. If you have no liability, you cannot receive a dollar for dollar tax credit. However, the Arizona taxpayer must first donate the maximum to the Original tuition tax credit program, in order to donate the additional amount.
Tax Year 2017:
A. Original Tax Credit Donation amount: single= $546 – married/ filing Joint= $1,092
B. Switcher Tax Credit Donation amount: single= $543 – married/ filing Joint= $1,085
*The maximum tax credit donation for 2017 tax year is $1,089 for single and $2,177 for married/ filing Joint.
Tax Year 2018:
A. Original Tax Credit Donation Amount: single = $555 – married/ filing Joint= $1,110
B. Switcher Tax Credit Donation Amount: single = $552 – married/ filing Joint= $1,103
*The maximum tax credit donation for 2018 tax year is $1,107 for single and $2,213 for married/ filling joint.
Please consult a Tax Professional.
How do I report the donation on my tax return?
When you are filing your taxes, you can claim the tax credit by using the Arizona 301 and 323 forms along with state income tax forms. However, if you donate to the Switcher program, you also need to file a 348 form. All these forms and more can be found at azdor.gov.
May I recommend a child for a scholarship?
Yes! You may recommend anyone who is not your child or dependent. PSTF123 selection committee retains complete discretion regarding all awards. If you have no specific child you would like to recommend, you have the option to recommend a private school of your choice. Your donation will then be considered for students attending that school who have completed applications on file with PSTF123. Or you may donate to the PSTF123 general fund to be awarded to any qualified student at a private school. The law prohibit Parents from swapping tax credit to benefit either taxpayer’s own dependent.
How much of my donation is used for a scholarship award?
Arizona law requires that 90% of donated funds be awarded as scholarships. Ninety percent is the minimum amount we will award to qualified K12 students and schools in Arizona.
Will I receive a receipt?
Yes. If you donate online via credit card you will immediately receive a digital tax receipt at the email address you provided in your application. If you donate by check we will mail you a tax receipt by January 31 of the following year. If you need a receipt prior to January 31 please contact PSTF123.
Can my donation be eligible for a federal income tax reduction as well? Since PSTF123 is a 501(c)(3) non-profit, your donation may be eligible for a federal tax deduction. Please consult a tax advisor concerning your deduction
WHY DONATE TO PSTF123?
We believe every child in Arizona deserves the opportunity to be at the private school of choice where they can reach their full potential.
Thank you for your tuition tax credit donation. IT IS ALL ABOUT KIDS!
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