Deducting donations???

[lisa89]

Just wondering if you can write your donations off on your taxes as a charitable donation? If so, does the food shelf give you a receipt & what do they put for a value?

When I donate I just drop my stuff off at the local grocery store in their bins. I'm not donating a lot right now, but hope to in the future!!

THanks!
Lisa

[too-old-now]

Yes, you can write it off if you itemize your deductions. You need a dated reciept for the donations, stating you got nothing in return. The value is determined by the donor. You get the benefit of the bargain if you use coupons.

If any donation exceeds $500, it requires an appraisal.

Look at IRS publication 526, and form 8326

[knott02]

I work at a non-profit and I would recommend keeping good books and receipts with any donation moving forward if you are planning on using it on your taxes. They are really looking for fraud in big cases, but you never know. New tax laws are always coming down with charities. Just my .02.

[kurlisola]

With your receipts, you might want to scan them or make copies & attach because after a year or so, most lighten up so much, that you can't read them.

[BzyBee DH]

We keep detailed list, quantity, shelf price per item, and total $.

We don't deduct all that we could

[queenofthehivemomof5]

Do you deduct the price before coupon or after coupon?

I donate but have never claimed it on my taxes.

[BzyBee]

the form has one column, labeled "fair market value".

Not price paid.

(answered by DH)

[MaryMary]

Originally Posted by too-old-now Yes, you can write it off if you itemize your deductions. You need a dated reciept for the donations, stating you got nothing in return. The value is determined by the donor. You get the benefit of the bargain if you use coupons. If any donation exceeds $500, it requires an appraisal. Look at IRS publication 526, and form 8326

any single donation there is.
I bet you've donated much more then $500 in food as per supermarket prices, but no appraisal required because every single one was under $500 in value.

[heyaheather]

Here is the link for Publication 526: http://www.irs.gov/pub/irs-pdf/p526.pdf (This is a 23 pg. PDF file). Or you can view it in an html file: Publication 526 (2007), Charitable Contributions


I can't find form 8326.

[heyaheather]

The info below is quoted from the into of Publication 526.

"Useful Items - You may want to see:

Publication

• 78 Cumulative List of Organizations
• 561 Determining the Value of Donated Property

Form (and Instructions)

• Schedule A (Form 1040)
  Itemized Deductions
• 8283
  Noncash Charitable Contributions

See How To Get Tax Help near the end of this publication for information about getting these publications and forms."

T-O-N, do you mean form 8283?? If so, here is the link for that: http://www.irs.gov/pub/irs-pdf/f8283.pdf. It is for Noncash Charitable Contributions.

Do you have a form similar to this that you keep for each donation? Do you have the organization(s) sign your donation list? Do you keep ALL receipts for the year and where?