Proof of charitable contributions

Proof of your charitable contributions

The IRS often want proof of charitable contributions. The IRS want proof that the tax payer made a charitable contribution if the tax payer claims a charitable contribution tax deduction.

How long to keep proof of charitable contributions for?

Keep the charitable contribution record and documents for at least four years.

Cash Contributions of Up to $250

Your own records of charitable contributions will suffice as proof of charitable contributions at this level. The easiest way to keep a record of charitable contributions is to write a check for all charitable contributions. The $250 is not an annual limit of any charitable contribution.

Cash Contributions of $250 or More

The IRS says your canceled check is not enough documentation for these larger charitable contributions. You must have a receipt from the charity, stating the amount of the charitable contribution you made, as well as the name of the charily.

Gifts of Property and noncash gifts to charity

You can give property or any noncash assets instead of cash to a charity. More rules are involved, but they may be worth it if you don't need the property but do need a tax deduction.