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 Santa Clara
Category:
State:
Multi-State
County:
Santa Clara
Control #:
US-0018LR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Proof can be provided in the form of an official receipt or invoice from the receiving qualified charitable organization, but it can also be provided via credit card statements or other financial records detailing the donation.
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.
Technically, if you do not have these records, the IRS can disallow your deduction. Practically, IRS auditors may allow some reconstruction of these expenses if it seems reasonable.
Current federal and state law allows an individual to claim an itemized deduction for contributions to a qualified charitable organization.
As mentioned above, to claim a charitable donation, you need to itemize your deductions using Form 1040, Schedule A as part of your tax preparation. Schedule A reports your itemized deductions, including charitable contributions. Fill out this form carefully to ensure accurate information about your donations.
Individuals, partnerships, and corporations file Form 8283 to report information about noncash charitable contributions when the amount of their deduction for all noncash gifts is more than $500.
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.
Not only can you deduct the fair market value of what you give from your income taxes, you can also minimize capital gains tax of up to 20 percent.
Print and mail the form. It's essential to keep a copy of the filled form for your records. As of now, Form 8822 cannot be filed electronically.
You cannot e-file Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return. The Instructions for Form 709 direct you to mail it to the applicable address listed below.
