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Do under $250, $250-500, $500+ record keeping requirements for noncash donations apply to total amount of all donations, or just to each single donation?
For example in one year, say I give $200 worth of noncash goods to Goodwill in January, $200 worth of goods to AKS in July, and another $200 to Goodwill in November. Which rule do I follow?
1) the $500+ record keeping requirement since my total noncash donations exceed $500
2) the "under $250" record keeping requirement for all 3 donations since they occurred separately and were less than $250 each
3) the "under $250" requirement for the AKS donation and the "$250-500" requirement for the Goodwill donations since their total for the tax year was $400?
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May 31, 2019
4:53 PM