Tax filing: donations?

brewer12345 · 01-05-2008, 12:58 PM

I know that the rules are supposedly different for deducting charitable donations now. I recently read that you now have to submit a receipt from the charity or a copy of a cancelled check to substantiate each and every donation. Is this really true? If so, my shipment to the IRS this year is going to be a thicker file than last year (a sheet for each week's check in the weekly collection basket?).

**REWahoo** · 01-05-2008, 01:07 PM

The new rules for cash contributions relate to record keeping requirements, not document submission. From page 153 of Publication 17 (Your Federal Income Tax for Individuals: 2007):

"What's new: You cannot deduct a cash contribution, regardless of the amount, unless you keep a record of the contribution - a bank record (such as a canceled check, a bank copy of a canceled check, or a bank statement containing the name of the charity, the date, and the amount) or a written communication from the charity."

LOL! · 01-05-2008, 03:40 PM

LOL! Like the IRS is going collect a bunch of scrap paper for recycling. You just need to keep the receipts with a copy of your tax return in case you are audited. Chariities know the rules, so they are happy to give out lots of receipts.

01-05-2008, 12:58 PM	#1
brewer12345 Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Mar 2003 Posts: 9,248	Tax filing: donations? I know that the rules are supposedly different for deducting charitable donations now. I recently read that you now have to submit a receipt from the charity or a copy of a cancelled check to substantiate each and every donation. Is this really true? If so, my shipment to the IRS this year is going to be a thicker file than last year (a sheet for each week's check in the weekly collection basket?). __________________ “When you realize that you are one of the rare few who observe moral principles in their relationships with others, there is a temptation to sink into amorality, not out of conviction or pleasure but simply to avoid further pain, because there is no greater suffering than being an angel in hell, whereas a devil feels at home wherever he goes.” – Martin Page, How I Became Stupid

01-05-2008, 01:07 PM	#2
REWahoo Administrator Join Date: Jun 2002 Location: Texas Hill Country Posts: 11,606	The new rules for cash contributions relate to record keeping requirements, not document submission. From page 153 of Publication 17 (Your Federal Income Tax for Individuals: 2007): "What's new: You cannot deduct a cash contribution, regardless of the amount, unless you keep a record of the contribution - a bank record (such as a canceled check, a bank copy of a canceled check, or a bank statement containing the name of the charity, the date, and the amount) or a written communication from the charity." __________________ [Closed for renovation]

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01-05-2008, 03:40 PM	#3
LOL! Thinks s/he gets paid by the post Join Date: Jun 2005 Posts: 2,298	LOL! Like the IRS is going collect a bunch of scrap paper for recycling. You just need to keep the receipts with a copy of your tax return in case you are audited. Chariities know the rules, so they are happy to give out lots of receipts.

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