IRS offers tips for year-end charitable giving

As the end of the year approaches, many people will be wrapping up a season of giving -- in money and household items.

The IRS wants to remind all charitable givers of a few tax-related rules associated with these donations.

Clothing and household items:

-Items must be in good condition or better to be deductible

-Deductions over $500 don't have to meet the condition requirement if you include a qualified appraisal with your tax return

-Items in this category can include clothing, furniture, electronics, appliances and linens.

Monetary donations:

-Make sure you have a bank record or written communication from the charity showing the charity's name, date of the contribution and the amount.

-Bank records include canceled checks, bank or credit union statements and credit card statements. Make sure these statements include the charity name, date and amount paid and transaction date.

-Monetary donations include cash, check, electronic funds transfer, credit card and payroll deductions. For payroll deductions, retain a pay stub, or a W-2 showing the total amount withheld for charity along with your pledge card showing the name of the charity.

Additional information

-Make sure the organization you donate to is qualified for a tax deduction by searching here.

-Web Course: Can I Deduct My Charitable Contributions?

-PDF: How to claim a deduction for a charitable contribution

Copyright 2012 WBRC. All rights reserved.