Taxes 101
Tax Credits And Deductions

Charitable Contributions

The IRS has imposed stricter standards for the condition of some items donated to charities. No deduction is allowed for clothing and household items unless the donated property is in “good used condition or better.” The rule does not apply to any contribution of a single item for which a deduction of more than $500 is claimed if the taxpayer includes a qualified appraisal with the return. Monetary charitable contribution deductions will be disallowed unless the donor maintains a record of the contribution with cancelled checks, receipts, and written documentation.