The GOP's Tax Reform Bill Takes Aim at College Sports Fans
Getting tickets to college sporting events can be a costly ordeal. Competitive programs often require fans to make large donations just for the privilege of doling out even more money for tickets.
In many cases, universities require donations that exceed the face value of their seats. This season, Louisiana State University's football fans paid a mere $425 for each seat near the 50-yard line at its home games, but the school required an additional donation of $1,025 to its Tradition Fund, thus bringing the total price to $1,450 per seat.
Universities with competitive sports teams have long been able to command a higher price for season tickets, thanks to how the donations are treated under tax law. The IRS currently allows taxpayers to deduct 80% of payments made for "the right to purchase tickets for seating at an athletic event in an athletic stadium" as a donation.
Source: Fool.com
