The IRS requires that taxpayers substantiate their donations to
charity. Whatever the donation is, whether money, a household item
or clothing, the substantiation rules must be followed. The rules
are complex and frequently tripped up taxpayers who had good
intentions but failed to satisfy the IRS's requirements.
Substantiation
One way to understand the IRS's requirements is to break
them down by monetary amount and the type of donation, money and/or
household items or clothing.
- To deduct a contribution of cash,
check or other monetary gift (of less than $250), a taxpayer must
maintain a bank record, payroll deduction records or a written
communication from the organization containing the name of the
organization, the date of the contribution and amount of the
contribution.
