If you plan on deducting charitable contributions on your 2017 tax return, you’ll need to have certain records. Gifts by check or credit/debit card must have written documentation showing the contribution amount and date, as well as the name of the charitable organization you gave to. If the contribution is more than $250, you’ll also need a written acknowledgement from the charity created at the time you made the donation.
If you receive something in return for donating, you can deduct only the difference between the contribution amount and the value of the benefit you received in return.
Give us a call if you have questions about deducting your charitable contributions.