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How Do I Figure Charity Deductions?

Contrary to popular belief, you are not "allowed" to claim a certain amount of contributions (or any deduction), unless you actually did incur the expense. You must also be able to provide proof of such expenses in the event of an audit.

Generally, you can deduct cash or check contributions to any church or recognized charitable organization. You may not deduct donations to political candidates or groups, lobbying groups, foreign charities or made directly to an individual. You also cannot deduct donations to "tax exempt" or "non-profit" organizations that do not qualify to accept tax-deductible donations.

If you receive any goods or services in return for your donation, you must limit your deduction to the amount by which the donation exceeds the value of what you received in return.

Deductible Contributions are money or property given to:

churches, synagogues, temples, mosques and other religious organizations.

Federal, state and local governments, if contribution is solely for public purposes.

Nonprofit schools, hospitals and volunteer fire companies.

Public parks and recreation facilities.

Salvation Army, Red Cross, CARE, Goodwill Industries, United Way, Boy/Girl Scouts, Boys/Girls Clubs of America etc.

War Veterans groups. 

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Disclaimer
We do not offer legal advice. All information provided on this website is for informational purposes only and is not a substitute for proper legal advice. If you have legal questions, we recommend that you seek the advice of legal professionals.

Tax Disclaimer: To ensure compliance with IRS Rules, any U.S. federal tax advice provided in this communication is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer under the Internal Revenue Code, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein.

Copyright 2017 Wink Tax Services / Wink Inc.
Last modified: January 30, 2017