topic https://ttlc.intuit.com/replies/4449943 in Deductions & credits

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?

hazelwoods — Fri, 31 May 2019 23:53:32 GMT

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?

Deductions of Less Than $250 If you make any non-cash co...

Iris1 — Fri, 31 May 2019 23:53:34 GMT

Deductions of Less Than $250

If you make any non-cash contribution, you must get and keep a receipt from the charitable organization showing:

The name of the charitable organization,
The date and location of the charitable contribution, and
A reasonably detailed description of the property.

Deductions of At Least $250 But Not More Than $500

If you claim a deduction of at least $250 but not more than $500 for a non-cash charitable contribution, you must get and keep an acknowledgment of your contribution from the qualified organization. If you made more than one contribution of $250 or more, you must have either a separate acknowledgment for each or one acknowledgment that shows your total contributions.

http://www.irs.gov/publications/p526/ar02.html#en_US_2014_publink1000229839

That's not what I was asking. I want to know if the vario...

hazelwoods — Fri, 31 May 2019 23:53:35 GMT

That's not what I was asking. I want to know if the various record keeping requirement thresholds apply to all total donations, all total donations to each entity, or each individual donation.

It is up to you how you report it, as long as you have an...

Iris1 — Fri, 31 May 2019 23:53:36 GMT

It is up to you how you report it, as long as you have and keep good records of each transaction. Using the examples you provided, Number 2 is not such a bad choice. I revised the previous answer to give you IRS interpretation of non-cash donations.

https://ttlc.intuit.com/replies/4449943

Iris1 — Fri, 31 May 2019 23:53:39 GMT

https://ttlc.intuit.com/replies/4449943