You can take a tax deduction for any money or property you donate to a qualified charitable organization (not to individuals or political organizations). Charitable nonprofit organizations must apply to the IRS to become “qualified.”
For donations over $250 in cash, by check, or by credit card, you must have one of the following to claim a tax deduction:
Bank Record: This should show the name of the qualified organization, the date of the contribution, and the amount of the contribution. Bank records may include a canceled check, a bank or credit union statement, or a credit card statement.
Receipt or Written Communication: This should come from the qualified organization and show the name of the organization, the date of the contribution, and the amount of the contribution.
Payroll Deduction Records: These must include a pay stub, Form W-2, or another document furnished by the employer that shows the date and the amount of the contribution, along with a pledge card or other document prepared by or for the qualified organization that shows the name of the organization.
Appraisals: If you donate property worth more than $5,000, you will need a written appraisal to determine the property’s fair market value.
By keeping these records, you will have the information you need to claim a tax deduction for your charitable donations on your federal income tax return. It is important to note that to claim a tax deduction for charitable donations, you must itemize your deductions on your tax return.