Tips for Year-End Giving From the IRS
The IRS offers reminders to taxpayers of guidelines for charitable donations.
Do you plan to donate to charity before the year ends? Keep in mind that some IRS guidelines have changed in recent years. The IRS offered the following tips for taxpayers on year-end giving: Rules for Clothing and Household Items To be deductible, clothing and household items donated to charity generally must be in good used condition or better. A clothing or household item (such as furniture) for which a taxpayer claims a deduction of over $500 does not have to meet this standard if the taxpayer includes a qualified appraisal of the item with the return. Guidelines for Monetary Donations To deduct any charitable donation of money, regardless of amount, a taxpayer must have a bank record or a written communication from the charity …
