To claim qualified charitable donations that don't meet the requirements mentioned above, you need to itemize deductions on Schedule A. Before making this move, be sure that itemizing will reduce your tax bill more than taking the standard deduction. Keep proof of your gift.
If you gave cash, hold on to a bank statement, cancelled check or credit-card receipt showing the amount of the donation. Clothing or household items must be in good shape. TurboTax will do this for you. Get an independent appraisal when giving valuable property.
Restrictions on deducting charitable donations The IRS limits charitable deductions in certain circumstances, including: Gifts of financial assets held one year or less. In fact, you have to list the gain on your tax return. Donation for which you got something in return.
Say you bought theater tickets at a charity auction. Gifts to non-qualified organizations. You can either deduct your actual expenses using receipts for gas and similar costs, or you can take the standard mileage deduction. Keep your receipts if you plan to deduct your actual expenses; you may need the if you're audited. How much can I deduct? How to claim tax deductible donations on your tax return. Filing status. Married, filing jointly.
Married, filing separately. Head of household. Things to remember about tax deductible donations. Donate to a qualifying organization.
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Table of Contents Expand. Plan Your Giving. Get a Receipt for Your Donations. Donate Household Goods. Don't Forget Vehicle Expenses. Track Carryforwards Carefully. The Bottom Line. You must itemize in order to take a charitable deduction.
Make sure that if you itemize, your total deductions are greater than the standard deduction. If they're not, stick with the standard deduction. A contribution is deductible in the year in which it is paid. Putting the check in the mail to the charity constitutes payment. A contribution made on a credit card is deductible in the year it is charged to your credit card, even if payment to the credit card company is made in a later year.
Most, but not all, charitable organizations qualify for a charitable contribution deduction. You can deduct contributions only if they are made to or for the use of a qualified recipient. No charitable contribution deduction is allowed for gifts to certain other kinds of organizations, even if those organizations are exempt from income tax.
Contributions to individuals, foreign governments, foreign charities, and certain private foundations similarly are not deductible. All organizations rated by Charity Navigator qualify for charitable status, and you can deduct your donations to these organizations, subject to certain limitations. There are limits to how much you can deduct, but they're very high. For most people, the limits on charitable contributions don't apply.
If you are giving to organizations other than those mentioned above, first consult with your tax adviser to determine whether these other ceilings will apply.
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