If you donated to a qualified charitable organization, you can deduct this on your tax return as long as you are itemizing your deductions. To determine if an organization is qualified, click here to use the tax-exempt organization search.
All charitable contributions must meet certain guidelines.
In the case that you receive a benefit from a contribution such as goods, merchandise, services, admission to a banquet, theatrical performance, charity ball, or sporting event, you can only deduct the number that exceeds the fair market value from the benefit received.
You should also retain a record of all monetary gifts in case the IRS requests this information. For contributions exceeding $250, you must obtain a letter of acknowledgment from the qualified organization. The letter must include the amount of cash and a description of any property contributed.
If you have a noncash contribution worth more than $500, you’re required to fill out Form 8283, Noncash Charitable Contributions PDF and attach it to your return. You must fill out Section A of that form if you claim a deduction for a contribution of noncash property worth $5,000 or less. You must complete Section B if you claim a deduction for a contribution of noncash property worth more than $5,000 and retain a qualified appraisal. If the noncash property exceeds $500,000, attach the qualified appraisal to your return as well.
