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  #4  
Old 12-29-2003, 09:06 PM
Christopher Green
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Default Re: Not itemizing deductions - Exemption for donations ?

Phil Henry <ph[at]hotmail.com> wrote:

- quote -

> I do not itemize deductions (I rent). Can I claim exemptions
> for donations of clothes, books etc. to the Salvation Army,
> the local library etc ?


No, because the deduction for charitable contributions is an
itemized deduction. If you don't itemize, no deduction.
There is occasionally talk of making it an adjustment to
income (which would allow non-itemizers to take it), but
nothing has come of that.

--
Chris Green

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  #3  
Old 12-29-2003, 09:06 PM
Brew1
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Default Re: Not itemizing deductions - Exemption for donations ?

Phil Henry <ph[at]hotmail.com> wrote:

- quote -

> I do not itemize deductions (I rent). Can I claim exemptions
> for donations of clothes, books etc. to the Salvation Army,
> the local library etc ?


Although Congress has discussed an additional deduction for
charitable donations (up to $500) for those who take the
standard deduction, it did not pass this year. So, for now,
you will have to be satisfied with a more intangible return
on your good deed(s). But keep track of all possible
deductions for 2004, you never know what Congress might do
or whether you may pass over the threshold.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #2  
Old 12-29-2003, 09:06 PM
Frederick Jorden
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Default Re: Not itemizing deductions - Exemption for donations ?

Phil Henry wrote:

- quote -

> I do not itemize deductions (I rent). Can I claim exemptions
> for donations of clothes, books etc. to the Salvation Army,
> the local library etc ?


No you have to itemize to claim charitable contributions.

--
Frederick E. Jorden http://Tax-Accounting-Payroll.com
7825 Midlothian Tpk - 207 Richmond, VA 23235-5247 EMAIL knowtax[at]bigfoot.com
(804) 320-6210 FAX (804) 320-6211

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #1  
Old 12-29-2003, 08:46 PM
Bill
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Default Re: Not itemizing deductions - Exemption for donations ?

Phil Henry asked whether he can deduct charitable donations,
without itemizing.

The answer is no.

(While there is a current drive to allow deductions for
charitable giving without itemizing, it has not been enacted
yet, and prospects do not appear promising.)

Bill

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 
Old 12-29-2003, 08:26 PM
Wayne Brasch
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Default Re: Not itemizing deductions - Exemption for donations ?

"Phil Henry" <ph[at]hotmail.com> wrote:

- quote -

> I do not itemize deductions (I rent). Can I claim exemptions
> for donations of clothes, books etc. to the Salvation Army,
> the local library etc ?


You would need to be able to itemize deductions in order to
claim these contributions.

Wayne Brasch, CPA, M. S. Taxation

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #-1  
Old 12-29-2003, 12:56 AM
Phil Henry
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Default Not itemizing deductions - Exemption for donations ?

I do not itemize deductions (I rent). Can I claim exemptions
for donations of clothes, books etc. to the Salvation Army,
the local library etc ?

Thanks.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

Tags
deductions, donations, exemption, itemizing
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