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Use the following lists for a quick check of contributions you can or cannot deduct. See the rest of this publication for more information and additional rules and limits. Fractional interests in property. New rules apply to donations after August 17, 2006, of a fractional interest in tangible personal property.
The required written disclosure statement must: Inform the donor that the amount of the contribution that is deductible for federal income tax purposes is limited to the excess of any money (and the value of any property other than money) contributed by the donor over the value of goods or services provided by the charity, and
1 lip 2016 · For contributions of art with an appraised value of $50,000 or more, taxpayers can request an IRS Statement of Value (which can be relied on when preparing returns). (Under limited circumstances, the IRS may issue such a statement for items appraised for less than $50,000.)
Introduction. This publication explains how individuals claim a deduction for charitable contributions. It discusses the types of organizations to which you can make deductible charitable contributions and the types of contributions you can deduct.
Regulations about charitable donations focus on two main areas: substantiation of donations of $250 or more and disclosure requirements for goods and services that you may receive as a result of your donation. The IRS Publication 526 provides more detailed information.
The primary authoritative support concerning the valuation and reporting and recordkeeping of charitable donations is addressed in the Internal Revenue Service -- Publications 526 and 561. Publication 561 focuses on the topic of “Determining The Value Of Donated Property.”
See IRS Publication 526, Charitable Contributions, for rules on what constitutes a qualified organization. To deduct a charitable contribution, you must file Form 1040 and itemize deductions on Schedule A.
