Are donations of gift cards to charitable organization listed as a cash or property donation?

texpals — Thu, 06 Jun 2019 05:16:39 GMT

If gift card donation is entered as property what type and method for dtermining market value should be entered?

Cash. Gift cards are the equivalent of cash therefore yo...

DianeW — Thu, 06 Jun 2019 05:16:40 GMT

Cash. Gift cards are the equivalent of cash therefore you would list this as a cash donation.

You can claim a deduction for a contribution of $250 or more only if you have an acknowledgment of your contribution from the qualified organization or certain payroll deduction records.
If you made more than one contribution of $250 or more, you must have either a separate acknowledgment for each or one acknowledgment that lists each contribution and the date of each contribution and shows your total contributions.