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Charitable Gifts Tax Deduction

Gift to a tax-exempt charity are eligible to be claimed as charitable income tax deductions.



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What are charitable income tax deductions?

Contributions made to a qualified tax-exempt charitable organizations can be deducted.


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Charitable income tax deductions: what qualifies

Cash donations, clothing or other goods are all deductible. Just make sure you have proof of its value and a receipt documenting the donation.

Download IRS Publication 561 for a list of the fair market value of qualified items. If an item's fair market value is over $500, fill out Form 8283.


Other charitable income tax deductions

Appreciated stock, mutual funds, or other investments can also be donated to a charitable organization.




Related IRS publications

Get more information about charitable income tax deductions from IRS Publication 526

IRS provides FMV guidelines in Publication 561.

For a paper tax return, attach IRS Form 8283 and Schedule A. If you file online, the forms for claiming any charitable income tax deductions will be completed for you.


Note: you will need an Adobe Acrobat Reader to view these publications, which you can get here.



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Read this disclaimer: This internet site provides information of a general nature for educational purposes only and is not intended to be legal or tax advice. We make no guarantees as to the validity of the information presented. Your particular facts and circumstances, and changes in the law, must be considered when applying U.S. tax law. You should always consult with a competent tax professional licensed in your state with respect to your particular situation.