Announcement

Collapse
No announcement yet.

Charity Non Cash

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Charity Non Cash

    Client came in with 6 sheet of clothes,toys.appliances,etc.Value over $500. My question is can you lump some of the items,such as clothing or do you have to list each seperate.Have listed seperately for clients before but never had 6 pages (frount & back) to do before.

    #2
    Yes, you can group them together.

    Comment


      #3
      Grouping

      I usually group by charity donated to, and then by date of donation.
      That's all I have to say ... for now.

      Moses A.
      Enrolled Agent

      Comment


        #4
        Same here GI MOE. Check if the software you are using has scratch pads in the line to enter the total amount click on it and group the types ex.all clothes together all toys together etc. then when the total populates write the name of the charity and the date. Also if the donations were made over the whole year just name the charity. This way if you want you can print out the scratch pad and attatch it to the office file.

        If you are filing paper returns enter the total amount of the contributions for each charity. Make photo copies of the pages and attatch them to the return.

        I have my reasons for attatching the proof. The main one is Audits. The IRS has been cracking down on charitable contributions. With six pages you might want to attatch proof. If it wasn't needed, o-well. At least they saw all of the information you recieved. Keep you and your client on the safe side.

        Jade!!

        Comment


          #5
          Originally posted by Jade06 View Post
          The IRS has been cracking down on charitable contributions.
          Thanks, i've heard that also.

          Comment

          Working...
          X