Wednesday, December 25, 2019

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What else (other than cash), you can contribute to your favorite charitable organization?

  •  You can contribute your time (e.g., Volunteer Services)...
  •  Volunteer with out-of-pocket expenses...
  •  Publicly and non-publicly traded stocks...
  •  Artwork...
  •  Autos, boats, and planes...
  •  Patents and other intellectual property, and
  •  Non-cash donations.


The form of the written documentation acknowledging your varies by amount and type of donations. You may be required to attach with your 1040, IRS Form 8283, and/or Form 1098-C, or any other statement(s) as prescribed by the IRS. Sometimes you are required to obtain an appraisal in the form prescribed by the IRS. 

The IRS had established the definitions of the following terms:  "Written Records",  "Acknowledgement", and what is a "Pledge Card". 

Please consult with your tax professional or the IRS.gov.




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