To write off any cash contributions, no matter how small, you need a canceled check, bank record or a receipt with the charity's name and donation amount. That means that putting cash in the church collection plate or the Salvation Army bucket is a no-no if you want to be able to take a deduction for it.
As with all deductions, timing is everything. You can take the deduction for your contribution in the year that you make it.
- For example, if you mailed a check to your favorite charity on December 31, you can write it off on that year's tax return.
- If you charge the donation on a credit card, the write-off is claimed in the year the charge is made, even if you don't pay the credit card bill until the following year.
- But a pledge to make a donation is different: Because it's only a promise to make a future donation, there's no deduction until you actually follow through.
