Such as donations to the Jimmy Fund, Salvation Army, and other nonprofit organizations.
2007-03-18 13:23:55 · 11 answers · asked by Andrew 4 in Business & Finance ➔ Taxes ➔ United States
Charitable donations are tax deductible, but you can only claim them if you itemize your deductions.
To itemize your deductions you file Shcedule A, but to benefit from this you have to have deductions higher than the standard deduction given to you based on your filing status. The contributions get added to mortgage interest, taxes, etc. Unless you own a home, you probably can't itemize unless you give a lot of money to charity.
2007-03-18 13:41:56 · answer #1 · answered by irongrama 6 · 3⤊ 1⤋
I will add one thing. Beginning for tax year 2007, receipts (or canceled checks) are required. For tax year 2006 and before, miscellaneous cash contributions like $10 in a weekly church collection or $5 in the Salvation Army kettle were deductible if you had some credible evidence, such as a contemporaneous log, or your claimed cash church contributions were at least consistent with your church's cash collections.
For any individual gift of $250 or more, not only a receipt is required, but a statement from the charity that no tangible goods or services were given in exchange. That requirement has been in place for a number of years.
2007-03-18 15:01:02 · answer #2 · answered by CarVolunteer 6 · 1⤊ 0⤋
Donations to most of the organizations you mentioned are tax deductible because they have what is known as 501 (C).
You can get more info at the foundation center's website.
Just use a search engine such as yahoo and google.
2007-03-18 15:33:36 · answer #3 · answered by djgelee 1 · 0⤊ 1⤋
Donations to qualified organizations like these are deductible if you itemize and have a receipt from the organization. There are upper limits on how much can be deducted, but they're very high so not likely to affect most people.
2007-03-18 14:52:59 · answer #4 · answered by Judy 7 · 0⤊ 1⤋
Only as a Schedule A deduction. You must be able to itemize your deductions to claim a charitable deduction.
2007-03-19 09:20:25 · answer #5 · answered by bold4bs 4 · 0⤊ 0⤋
Most donations are tax deductible. You should get a receipt telling you rather or not it is tax deductible.
2007-03-18 13:27:07 · answer #6 · answered by iluvmydoggies 2 · 1⤊ 1⤋
IF you use itemized deductions, then some donations can be included.
2007-03-19 05:16:15 · answer #7 · answered by Ovrtaxed 4 · 0⤊ 0⤋
yes they are but after a certain amount you need to provide receipts for the donations.
2007-03-18 13:27:15 · answer #8 · answered by l.payan 2 · 1⤊ 1⤋
Yes they are. Make sure you have a receipt. Non profit will give you one if you ask for it. Hope this helps. AL
2007-03-18 13:30:04 · answer #9 · answered by Al 1 · 1⤊ 1⤋
Absolutely. But you have to get a receipt for proof.
2007-03-18 13:27:13 · answer #10 · answered by Anonymous · 1⤊ 1⤋