How do you know how much of a charitable contribution you can deduct on your tax return?
You donate $300 to your favorite charity this past summer, but now it’s time to file your taxes, you can’t recall if it was $300 or $325. You’re in luck! The IRS requires that a charitable organization provide written documentation for contributions made throughout the year, above certain thresholds.
Here is what you as a donor and/or you as a charitable organization need to know regarding documenting a donation: