Donation Tax Deductions
If you made donations to qualified charitable organizations during the tax year, you may deduct the value of those gifts on you federal tax return. Keep good records to document your donations and the expenses you incur in connection with those donations.
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Identification
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Non-profits, such as museums, child advocacy groups and animal rights organizations are examples of qualified charities. If you are unsure about the legitimacy of a charity, ask for verification of its tax-exempt status.
Cash Contributions
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Canceled checks or bank statements can be used as proof of donations. A written record provided by the charity is also acceptable as proof of your donation.
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Non-Cash Contributions
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File tax Form 8283 if you donate property valued at more than $500. You should get an appraisal on any item valued higher than $5000.
Non-qualified Contributions
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You may not deduct political campaign contributions, tuition expenses, blood donations or gifts to individuals.
Vehicle Donation
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File tax Form 1098C to take a deduction when you donate a car to charity. The form indicates the amount of money your charity received when it sold the vehicle. This is the amount you may deduct.
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