The following form is a general form for an unrestricted charitable contribution of cash.
Colorado Unrestricted Charitable Contribution of Cash
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How to fill out Unrestricted Charitable Contribution Of Cash?
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FAQ
For cash donations under $250, you'll need either a bank record (like a canceled check or bank statement) or a written acknowledgment from the charity, which includes the date and amount of your contribution. Bank records are insufficient for cash donations of $250 or more.
To be clear, you can claim work expenses up to $300 without receipts IN TOTAL (not each item), with basic substantiation. This means that if you have no receipts for work-related purchases, you can still claim up to $300 worth on your tax return.
Rule of thumb: Receipts aren't strictly required as long as the expense cost less than $75. That's true even if you pay with cash, which means you won't have a credit card or bank statement to corroborate your purchase. You still won't necessarily need your receipt, provided your expense is ?reasonable and ordinary.?
Any contribution of cash or property under $250 does not require a receipt. But any cash, check, or other monetary gift does require either a bank record or acknowledgment from the organization, regardless of the size of the gift.
For contributions of non-cash assets held more than one year, the limit is 30% of your adjusted gross income (AGI). Your deduction limit will be 60% of your AGI for cash gifts.
Any individual who claims the basic standard deduction on their federal income tax return, and is therefore unable to claim a federal itemized deduction for charitable contributions, can claim a subtraction on their Colorado return for a portion of any qualifying charitable contributions they make during the tax year.
Individuals may deduct qualified contributions of up to 100 percent of their adjusted gross income. A corporation may deduct qualified contributions of up to 25 percent of its taxable income.
Cash or property donations worth more than $250: The IRS requires you to get a written letter of acknowledgment from the charity. It must include the amount of cash you donated, whether you received anything from the charity in exchange for your donation, and an estimate of the value of those goods and services.
