Charitable Contributions

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Charitable Contributions

In order to claim a deduction for a charitable contribution to a qualified organization you are required to have proof of your deduction such as 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. The written communication must include the name of the charity, date of the contribution, and amount of the contribution. Note that if donating a car or boat to a charity, if the claimed value of the donated motor vehicle, boat or plane exceeds $500 and the item is sold by the charitable organization, the taxpayer’s deduction is limited to the gross proceeds from the sale.

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