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Does having more than $500 in non-cash charitable contributions increase audit risk?

We moved last year and made 20 donation trips to charities.  I'm still working on the valuation but even with my pretty low estimates I am at $1k.  Does this increase audit risk?  I have receipts, but they are just generic, we have to fill in what it was of course.  I have photos of some of it but not all. 

 

It's Deductible seems to value things a lot higher that I would (plus it's a bit cumbersome), so I haven't used it in years past and just stuck to under $500.

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Accepted Solutions
AmyC
Expert Alumni

Does having more than $500 in non-cash charitable contributions increase audit risk?

Not in your case. The circumstances of moving with a new address on your return makes donations reasonable. As long as you have records, you should make the deductions to which you are entitled. However, if you are not itemizing on federal or state, there is no need to enter them at all.

 

See How does the Standard Deduction differ from itemizing deductions?

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1 Reply
AmyC
Expert Alumni

Does having more than $500 in non-cash charitable contributions increase audit risk?

Not in your case. The circumstances of moving with a new address on your return makes donations reasonable. As long as you have records, you should make the deductions to which you are entitled. However, if you are not itemizing on federal or state, there is no need to enter them at all.

 

See How does the Standard Deduction differ from itemizing deductions?

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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