Royalties directed toward charities taxable?

Question

if someone writes memoirs, and intends to direct the proceeds to a charitable organization will future royalties be included on the gross income? if so, what can he do to keep these from being taxable, and i need the specific statuatory, regulatory or judicial authority that supports this.

thanks!!!

Answer 1

Intending to do so doesn't exclude it from income. Either set up a tax free foundation or simply make a tax deductible contribution. Note there may be limitations on your ability to deduct. Depends on how much the royalty will be. Need more information