800.382.1040

RMS Accounting

800.382.1040

Cash Donation Requirements

 

 

Note:  The deduction for charitable contributions cannot exceed 50% of your Adjusted Gross Income. 

 

Cash Donation Requirements:

 

· You gave less than $250

 

All you need to prove your contribution is a canceled check or account statement, receipt or a written record with date, organization and donation amount.

 

 

· You gave $250 or more

 

You need a written substantiation from the organization.

 

 

Note: If you made a contribution to an organization that provides a benefit to donors (ex: a donors dinner-dance), your charitable deduction is limited to the amount of donation less the fair market value of the benefits.