Charitable Contributions
Menu Path: Deductions/Credits > Itemized Deductions > Donations
A contribution is deductible if it is made to a qualified organization, such as a church or charitable organization like the United Way or Goodwill Industries. Contributions made directly to needy individuals or nonqualified organizations are not deductible.
The value of the service that you perform for a charitable organization is nondeductible. Any unreimbursed out-of-pocket expenses for volunteer work for a qualified organization are deductible. Examples of out-of-pocket expenses include office supplies, uniforms, gasoline, long distance phone calls, or other expenses spent while doing volunteer work for a charity.
For vehicle expenses related to volunteer work, you can either deduct your actual expenses or you can use a standard mileage rate to calculate your vehicle expenses based on miles driven. The standard mileage rate for volunteer work for a charity is $0.14 per mile. Actual vehicle expenses would be entered as out-of-pocket expenses on the Donations to Charities screen.
If you donate property such as clothing or used appliances to a charity such as Goodwill Industries, you can deduct the fair market value (FMV) of the property donated. FMV is the price you would have received if you had sold the property instead of donating it. Enter the value of your donated property as noncash donations on the Donations to Charities screen. If you donated more than $500 of property, you will need to enter information about the donation on Form 8283, which will be provided by the software.
It's important to keep good records of your donations. For donations below $250, a canceled check, bank record, credit card record, or a receipt from the charity is proof that you made the donation. For donations of $250 or more, you will need a receipt from the charity.
A contribution is deductible if it is made to a qualified organization, such as a church or charitable organization like the United Way or Goodwill Industries. Contributions made directly to needy individuals or nonqualified organizations are not deductible.
The value of the service that you perform for a charitable organization is nondeductible. Any unreimbursed out-of-pocket expenses for volunteer work for a qualified organization are deductible. Examples of out-of-pocket expenses include office supplies, uniforms, gasoline, long distance phone calls, or other expenses spent while doing volunteer work for a charity.
For vehicle expenses related to volunteer work, you can either deduct your actual expenses or you can use a standard mileage rate to calculate your vehicle expenses based on miles driven. The standard mileage rate for volunteer work for a charity is $0.14 per mile. Actual vehicle expenses would be entered as out-of-pocket expenses on the Donations to Charities screen.
If you donate property such as clothing or used appliances to a charity such as Goodwill Industries, you can deduct the fair market value (FMV) of the property donated. FMV is the price you would have received if you had sold the property instead of donating it. Enter the value of your donated property as noncash donations on the Donations to Charities screen. If you donated more than $500 of property, you will need to enter information about the donation on Form 8283, which will be provided by the software.
It's important to keep good records of your donations. For donations below $250, a canceled check, bank record, credit card record, or a receipt from the charity is proof that you made the donation. For donations of $250 or more, you will need a receipt from the charity.
