Simply put, Patreon pledges are tax deductible donations just as charitable donations can be deducted on your US tax filings. This backdates to JULY 23 2017 so total amounts pledged on or after that date can be included in your return this year and going forward!
We do not provide specific value on pledges so the full amount is deductible. Here’s Patreon’s Helpdesk article addressing it:
If the creator is a legally recognized not-for-profit company and you receive nothing of value in return for your payment to them, then some jurisdictions allow the patron to take a tax deduction.
As a creator, if you provide patrons with something in return for their payment (T-shirt, download of music not available to non-patrons, concert tickets, backstage passes, etc) then the patron’s tax deduction is limited to the amount of their payment which exceeds the value they received. For example, if the patron pays $100 of which $20 is the deemed value of a backstage concert pass, then only the $80 is considered to be tax deductible.