To help taxpayers plan their holiday-season and year-end giving, the IRS offers the following additional reminders:
• Contributions are deductible in the year made.
• Check that the organization is qualified using the IRS Exempt Organizations Select Check tool.
• For individuals, only taxpayers who itemize their deductions on Form 1040 Schedule A can claim deductions for charitable contributions.
• For all donations of property, including clothing and household items, get from the charity, if possible, a receipt that includes the name of the charity, date of the contribution, and a reasonably-detailed description of the donated property.
• If the amount of a taxpayer’s deduction for all noncash contributions is over $500, a properly-completed Form 8283 must be submitted with the tax return.
• And, as always it’s important to keep good records and receipts.
IRS.gov has additional information on charitable giving including:
• Charities & Non-Profits
• Publication 526, Charitable Contributions
• Online mini-course, Can I Deduct My Charitable Contributions?
• IRS Exempt Select Check Tool YouTube Video