The IRS requires proof of all cash donations big or small, such as a canceled check or a statement or receipt from the receiving organization.
- If you make a donation of more than $250 in any one day to any one organization, your cancelled check is NOT enough.
- You'll need an acknowledgment letter dated prior to your filing your tax return for the year in which you made the donation.
Non-cash donations, such as a vehicle, also need supporting records.
- For individual non-cash gifts of $250 to $500, that proof must include written confirmation.
- For a non-cash gift between $500 and $5,000, on top of written acknowledgment from the benefiting organization, you need to document your ownership and cost and file Form 8283.
- Gifts of non-cash property valued at more than $5,000 require additional substantiation.
You must file one or more Forms 8283 if the amount of your deduction for each noncash contribution is more than $500. You must also file Form 8283 if you have a group of similar items for which a total deduction of over $500 is claimed.
Forms 8283 for between $500 and $5,000 can be mailed separately to the IRS while you can still e-file your return.
If you have a Form 8283 for over $5,000, you would need to print and mail your return and include an appraisal.
See this TurboTax tips article and the IRS Instructions for Form 8283 for more information.
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