Last year I was told I could deduct $5,000.00 without ever being asked for proof. If I donated more than that I should have records.
Is this true for this year? Please show me where it says so online if you find a place.
2007-01-20 12:25:03 · 4 answers · asked by melissa13182 3 in Business & Finance ➔ Taxes ➔ United States
you can find all the answers that you need on www.taxact.com they have the fullest database when it comes to answers to those everyday questions!
2007-01-20 12:29:35 · answer #1 · answered by cheraerae 2 · 1⤊ 0⤋
Whoever told you that is dreaming. You are only allowed to deduct what you actually donated. If you were audited, had claimed $5000 in donations but could only product receipts for $4900 of it, and said the other hundred was tossed into the collection plate and the Salvation Army kettles in cash, it might or might not all be allowed, but that's it.
Find a new tax preparer or advisor - the old one is going to get you in trouble eventually.
2007-01-20 12:57:38 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
This year you have to have a receipt. Check www.irs.gov
2007-01-20 12:29:50 · answer #3 · answered by Nelson_DeVon 7 · 0⤊ 0⤋
Don't do it if it is bogus. If you have legitimate deductions why are you so concerned?
2007-01-20 12:33:11 · answer #4 · answered by zoomat4580 4 · 0⤊ 1⤋