This form is a sample letter in Word format covering the subject matter of the title of the form.
Charitable Donation Form For Taxes In Chicago
Category:
State:
Multi-State
City:
Chicago
Control #:
US-0018LR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
The Illinois Affordable Housing Tax Credit (IAHTC), also known as the Donations Tax Credit, provides a $0.50 state income tax credit for each $1 contributed to a qualified affordable housing project.
We are excited to announce new legislation – the Illinois Gives Tax Credit Act! This law was passed in Spring 2024 and provides a 25% State of Illinois tax credit to donors who give to endowed funds at community foundations across Illinois who are in compliance with National Standards.
ResidenceState/Local Individual Income Tax?Maximum State/Local Charitable Tax Benefit California YES 13.30% Colorado YES 4.40% Connecticut YES 0.00% Delaware YES 6.60%26 more rows
However, you should be able to provide a bank record (bank statement, credit card statement, canceled check or a payroll deduction record) to claim the tax deduction. Written records, like check registers or personal notations, from the donor aren't enough proof. The records should show the: Organization's name.
Have worked and earned income under $66,819 (income amount is dependent upon filing status and number of qualifying children). Have investment income below $11,600.
Generally, any nonprofit organization that promotes religious, literary, educational, scientific, humanitarian or other charitable causes will qualify. However, if the combined value of all property you donate is more than $500, you must prepare Form 8283 and attach it to your tax return.
Form 8283. For noncash donations over $5,000, the donor must attach Form 8283 to the tax return to support the charitable deduction. The donee must sign Part IV of Section B, Form 8283 unless publicly traded securities are donated.
Substantiation the amount you contributed; a description of any property you gave; a statement as to whether the charity provided services or goods (a meal or tickets, for example) as full or partial consideration for your donation, plus a description and good faith value estimate of the services or goods.
IRS Links for Forms and Instructions — IRS Tax Form 8283 is used to report information about noncash charitable contributions. Form 8282 is used to report information to the IRS and donors about dispositions of certain charitable deduction property made within 3 years after the donor contributed the property.
