Actually, no.
The IRS still holds that preferential ticket access is a "more than substantial" benefit. Only athletic tickets were initially subject to the 80/20 rule; more recently, all deductions were denied for those.
However, I have been instructed that before the athletic 80/20 rule in the 1980s, preferential access applied to all ticket purchases, including cultural and arts programs. Only when athletic directors petitioned the IRS was a "special" rule created for athletics.
Granted, only a few institutions offer donors special ticket access (outside of athletics). Therefore, they may not have explored the original rules. However, I have confirmed with a few legal specialists that the rules applied to all seating purchases before the Tax Reform Act of 1986 and that the new rules only affected athletics. When the laws changed again to negate any deduction for athletic ticket preferences, only the athletic provision was impacted.
Therefore, I believe that the old law still applies to non-athletic tickets.
You will need to seek advice from counsel before proceeding.
John
John H. Taylor, PrincipalJohn H. Taylor Consulting, LLC
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Durham, NC 27705
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