click below
click below
Normal Size Small Size show me how
Itemized Deduction4
Charitable contributions
Question | Answer |
---|---|
What are qualified charitable organizations | Qualified organizations are generally nonprofit groups that are charitable reglious,educational,scientific,orliterary in purpose or that work to prevent cruelty to children or animals |
Which of the following outlays are deductible as charitable contributions: Church,a wothy individual,scholarship fund for a school,tickets for school alumni banquet,donation Boy Scouts,scout camp fee for child,YMCA membership dues,YMCA building fund | Church,scholarship fund for school,donation to Boy Scouts,YMCA building fund |
Is the cost of items purchased to benefit a charitable organization deductible(example,ballet tickets to raise money for a nonprofit hospital) | Only the amount paid in excess of the value of the item is deductible. |
What is the general deduction limit for charitable contributions | 50% of the taxpayer's AGI.Lower limits may apply for certain organizations and donation of appreciated property |
What can be deducted by a volunteer workers | Out-of-pocket expenses for uniforms,equipment,supplies,transportation,and food and lodging if away from home overnight |
What can be claimed by volunteers in lieu of actual gas and oil expenses | 0.14 per mile |
May a volunteer claim a deduction for permitting a charitable organization to use property without charge | No deduction is allowed for donation of the use of property |
A taxpayer wrote a check for a $500 donation to his mosques.Is his cancelled check sufficient documentation to support his deduction | No.Because the gift exceeded $249 the taxpayer must have written confirmation fron the donee organization |