Charitable giving of $500 or more

When you make a charitable giving of $500 or more, a written acknowledgement is necessary to prove your charitable contribution of $500 or more. As in the case of charitable giving of $250 or more, an acknowledgement can be a letter, email. computer generated form, or postcard. The acknowledgement must state whether you received any good or services from the charity in exchange for the charitable contributions.

The requirement for proof of charitable contributions of $500 or more is the same as charitable giving of $250 or more but with some added details as follows.

For total tax deduction of $500 or more for charitable donations

If your TOTAL deduction for ALL property charitable donations exceeds $500, you must report EACH of the charitable donations on the IRS tax form 8283 (not just those charitable donations valued over $500). If you are not allowed to deduct fair market value for a property donation, you must attach a statement to IRS tax form 8283 explaining the reduction for the appreciation.

For property charitable donations of $5,000 or more

For property deductions exceeding $5,000, you need a written appraisal.

Special acknowledgment of charitable donations of cars and vehicles

Special acknowledgment of charitable contributions required for donated cares, other motor vehicles, boats and airplanes with a claimed value of over $500.