To claim donations to charity if the amount exceeds $250, you will need a donation receipt. According to the IRS, the following must be listed on the receipt:
- Organization Name (from an approved organization)
- amount of donation
- description of non-cash items
- statement that no goods or services provided
- description and good faith estimate of value of non-cash items
Charitable donations to an approved charity organization will be deducted on the Schedule A if you itemize your deductions. If you live in Virginia and claim the standard deduction on your federal return, then you must claim the standard deduction on your state return. If you itemize your federal return, then you can itemize the charitable donation on your Virginia return. This applies even if your donation was made to North Carolina. Per Virginia Code§ 58.1-322.03 , an individual is allowed, "to deduct from their Virginia adjusted gross income certain amounts allowed for itemized deductions for federal income tax purposes. These deductions include those for real estate taxes, home mortgage interest, personal property taxes, medical expenses, and charitable contributions, provided they are claimed in accordance with the IRC and its related regulations."
Charitable donation can be entered under credits and deductions in TurboTax. To enter you will follow these steps:
- Login to TurboTax
- Click Deductions and Credits
- Click Add Tax Break
- Click Donations to Charity
- Fill in interview questions
For more information on charitable donations, see the link below:
Charitable donations
Virginia Code § 58.1-322.03 1
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