Throughout the year, many taxpayers choose to make charitable donations, which they can deduct on their tax returns. If you gave to a charity, you have some steps to take to ensure you have the correct proof for your tax records. Follow these tips to get started:
1. Written Acknowledgements
The IRS only requires you to have a written acknowledgment from the charity when your gift or gifts exceed $250.
2. Multiple Gifts in One Year
You can either receive a written acknowledgement for each gift or a single acknowledgement listing all gifts over $250.
3. Additional Proof
The charity’s written acknowledgement is one set of proof. You also need either a bank record that shows the deducted gift or the charity’s communication (such as a card or email) verifying your gift.
Other details may apply, and you can find more information on the IRS website.