Chapter 14
Charitable Contribution Deductions
14.2 Nondeductible Contributions
14.3 Contributions That Provide You With Benefits
14.4 Unreimbursed Expenses of Volunteer Workers
14.5 Support of a Student in Your Home
14.6 What Kind of Property Are You Donating?
14.7 Cars, Clothing, and Other Property Valued Below Cost
14.8 Bargain Sales of Appreciated Property
14.10 Interests in Real Estate
14.13 Donations Through Trusts
14.14 Records Needed To Substantiate Your Contributions
14.15 Form 8283 and Written Appraisal Requirements for Property Donations
14.16 Penalty for Substantial Overvaluation of Property
14.17 Ceiling on Charitable Contributions
By making deductible donations, you help your favorite philanthropy and at the same time receive a tax benefit. For example, if you are in the 25% tax bracket, a donation of $1,000 reduces your taxes by $250.
For cash donations of any amount, your deduction will be disallowed if you do not have a cancelled check or account statement, or a written receipt from the charity, to substantiate your contribution.
For donations of $250 or more, you must receive a written acknowledgement from the organization that indicates whether you received goods or services in return for your donation. You need the acknowledgment as well as a cancelled check for a cash donation ...
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