check off your list

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Check Off Your List
Follow these guidelines to make sure nothing gets between you and the tax deduction you deserve.
  • To earn a deduction, you must be giving to a qualified 501(c)(3) charity or other exempt organization. Double-check at IRS.Gov.
  • Avoid cash gifts. Checks and credit cards make record keeping easier.
  • Get a dated receipt with the name of the organization and amount of each contribution.
  • For any property you donate—say, clothing or appliances to the Salvation Army or Goodwill—you can generally deduct the fair market value. (Check Publication 561 on the IRS website for guidance.)
  • Itemize your deduction on Form 1040, Schedule A, of your tax return.