800.382.1040

RMS Accounting

800.382.1040

Noncash Donation Requirements

 

 

   Noncash Donation Requirements:

 

·  You gave items worth less than $250

 

A receipt is not required where it is impractical to get one (ie: a drop box).  Still, keep a personal log of the name of the organization, date, location of contribution, along with a detailed description and value of items. (This brochure contains a sample log.)

 

 

· Item is worth $250 to $500

 

You need a written acknowledgement from the charitable organization.

 

 

· Item is worth $501 to $5000

 

You need a written acknowledgement from the charitable organization along with proof of how you acquired that property.

 

 

· Item is worth more than $5,000

 

You must meet the same requirements as the $502 to $5,000 category and in addition get a written appraisal of the property.