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Does having more than $500 in non-cash charitable contributions increase audit risk?
We moved last year and made 20 donation trips to charities. I'm still working on the valuation but even with my pretty low estimates I am at $1k. Does this increase audit risk? I have receipts, but they are just generic, we have to fill in what it was of course. I have photos of some of it but not all.
It's Deductible seems to value things a lot higher that I would (plus it's a bit cumbersome), so I haven't used it in years past and just stuck to under $500.
‎February 16, 2024
3:27 PM