As an individual filing a Federal Tax Return, how would I report tax deductions for non-cash donations?

Question

Or anything else that may be considered tax deductible. I'm not sure if there's a certain form that needs to be filled out to accompany the 1040/1040-EZ. Lord knows I'd have one hell of a time getting an answer from the IRS.

Answer 1

Noncash contributions are listed on your Schedule A with other itemized deductions... so if you file a 1040EZ or if you don't itemize, you can't take a deduction for contributions. You may be required to list additional information on Form 8283.

Publication 526 from the IRS gives step by step information. See the link below.

Answer 2

You have to itemize in order to take a deduction for charitable donations. If you take the standard deduction, you don't get to add on other deductions that would go on Schedule A for a 1040. You can't itemize on a 1040EZ.

You'll find rules and limitations for what you can deduct for non-cash donations, and for other deductible expenses, in the instructions for 1040 Schedule A. To be deductible, the donation must be made to a qualifying organization.

The IRS is usually pretty good at giving answers to straightforward questions, like yours. But getting through to them without being on hold for half an hour or more takes a lot of luck.

Answer 3

To claim charitable deductions you must file Form 1040 and use Schedule A. The total items on Schedule A must be more than the standard deduction for you to benefit from using Schedule A.

Here is a copy of Schedule A for you to look at to see what else is included:

http://www.irs.gov/pub/irs-pdf/f1040sab.pdf