<cballard[at]tyyni.net> wrote:
- quote -

Correct, but I think you missed my point. The individual
who tosses a couple of LINCOLNs into the collection plate
each week will not have any bank records to document this.

Regards,

Mark Rigotti

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"cballard[at]tyyni.net" <cballard[at]tyyni.net> wrote:
- quote -

A small clarification, the rule is "$250 or more" not "more
than $250."

--
Drew Edmundson, CPA
Cary, NC

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Mark X. Rigotti, CPA wrote:

- quote -

This is not entirely accurate. The new rule, effective Jan
1, 2007, is that for all monetary gifts the donor must
maintain a "bank record or a written communication from the
donee showing the name of the donee organization, the date
of the contribution, and the amount of the contribution".
Code section 170(f)(17). A receipt from the recipient
organization can be used to fulfill this obligation, but if
the donor has some sort of bank record evidencing the gift,
the receipt isn't manditory unless the amount of the gift is
more than $250. Code section 170(f)(8).

--Chris

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<avnguyen[at]gmail.com> wrote:

- quote -

All,

DO NOT forget that effective 1/1/7 ANY donation of ANY
amount requires a receipt. No more I gave $10 a week into
the collection plate.

Regards,

Mark

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avnguyen[at]gmail.com wrote:

- quote -

I've looked at the other answers to this post and I believe
I know where most of the confusion comes from regarding this
$250 clip level.

IRS Pub 17 and 526 have and continue to have (2006) a
statement under recordkeeping that creates this under $250
clip level for noncash contributions. A receipt or statement
from the charity is required unless it is impractical to get
one. It actually says that you MUST GET AND KEEP a receipt.

These pubs have always been in conflict with the
instructions for completing Schedule A. The instructions
address this issue in two sections. First off, it states
under Contributions You Can Deduct, that if the gift (cash
or property) is $250 or more you can only take a deduction
if you have a written statement from the charity. One could
conclude from this statement alone, that if the gift (cash
or property) was under $250, no written statement from the
charity would be required. Secondly, under gifts Other Than
By Cash or Check, the instructions state that you should
keep a receipt or written statement from the charitable
organization to whom you gave the gift or have a reliable
written record that states to whom you gave the gift, date
and location and a description of the property. Please note
that this section makes no mention of an absolute
requirement to get a receipt. It merely says you need to
keep a receipt or have a reliable written record.

I have always advised clients to get a receipt for noncash
contributions regardless of value. In those instances where
they could not get a receipt (Goodwill trailer was closed or
Thrift Shop was closed, etc., etc.) and they merely dropped
off the items, that they should document the who, what,
where and when themselves if the amount was under $250. They
should never make a donation in excess of $250 unless they
were able to get the receipt.

On a separate note, I have also advised clients who get that
standard receipt that says "Two Bags of Clothing", to
document in writing the actual contents of those bags and
attach that statement to the receipt.

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Barry Margolin <barmar[at]alum.mit.edu> wrote:
- quote -

Publication 526 has this line:

"You are not required to have a receipt where it is
impractical to get one (for example, if you leave property
at a charity's unattended drop site)."

--
Drew Edmundson, CPA
Cary, NC

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avnguyen[at]gmail.com wrote:

- quote -

the often-misunderstood $250 rule has not changed. A SINGLE
cash donation of more than $250 requires an acknowledgement
from the organization (cancelled check is not sufficient).

A receipt for non-cash donations has always been required,
the new rule is that the donated item, after August 17th (I
think) must be in "good" condition. Of course there is an
exception; an item in ANY condition that is still worth $500
or more can be claimed, but an appraisal is required.

To summarize, all donations now require written proof (date
and $ amount) and some donations have a higher standard you
must meet.

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<avnguyen[at]gmail.com> wrote

- quote -

You've always have been required to have proof (a receipt)
of the donation regardless of the dollar amount.

--
Paul Thomas, CPA
paulthomascpapc[at]bellsouth.net

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avnguyen[at]gmail.com posted:

- quote -

Pub 17 for Tax Year 2005 notes that for noncash deductions
of less than $250, you "must get and keep a receipt from the
charitable organization showing:
1. The name of the charity.
2. The date and location of the contribution, and
3. A reasonably detailed description of the property."

In earlier years, there was a somewhat looser requirement --
though it was always desirable to have a specific list for
your own records.

Bill

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avnguyen[at]gmail.com wrote:

- quote -

You did not find it because it is no longer there. You will
need to have a receipt for every donation you have.

Missy Doyle

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avnguyen[at]gmail.com wrote:

- quote -

Yes, there used to be such a rule. They've changed it, so
now you need a receipt for all non-cash donations.

I wonder what this means for all those Planet Aid clothing
drops. How are you supposed to get a receipt when you just
dump clothing in a big box in a parking lot?

--
Barry Margolin, barmar[at]alum.mit.edu
Arlington, MA
*** PLEASE don't copy me on replies, I'll read them in the group ***

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Hey all, I've donated random clothes here and there
throughout the year the totals to less than 250.

Was there a rule in the past that you didn't need a receipt
if your non-cash donation totaled less than 250? I couldn't
find that in this years schedule A instructions.

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