Showing posts with label $250 contributions. Show all posts
Showing posts with label $250 contributions. Show all posts

Monday, December 19, 2011

Cash or Check Donations of $250 or More

In order to deduct a donation of $250 or more, you have to get a written acknowledgement from the charity. This can be an email, and it does not have to be attached to the tax return. Charities are required to give you a written acknowledgement for any donations of $250 or more given at one time. A cancelled check is not good enough for the IRS. Protect yourself by getting those acknowledgements.

Tuesday, May 31, 2011

Donations of $250 or More

You have to obtain a written acknowledgement from the charity to take a deduction on your tax return for donations of $250 or more. A cancelled check is not enough. This is an easy area for the IRS to audit so get those letters from the charities. A lot of charities will give you a yearly summary of all of your contributions which is very helpful.