Charitable Donations - Are you doing them right?

By
Real Estate Agent with eXp Realty, LLC 527179

Charity Donations - Are you doing them right?

Charitable DonationsI was selected for an IRS Audit last year and my taxes for 2009 were audited.  Having an audit with the IRS was stressful at first but then after going through my documentation I realized that I had nothing to fear, I had been honest and I had the receipts and other documents to support my deductions.  I spent two entire days with the auditor at my accountants office.  Needless to say I learned a lot and I was really glad that I had the records that I had. Thankfully I did not owe any additional taxes, thank you God!

I want to share with you a few things that I learned about charitable deductions (and thankfully I had done), you should have photos of the items that you donated, a receipt from the place where the donation was made and believe it or not the IRS agent asked for the original receipt for each item that was donated (this is one thing that I didn't have because the items that were donated may have been from last year or from 10 years ago).

Here is a photo that I am using for the donations that I am taking to Goodwill today of my daughters clothes.Charitable Donations

I am a real estate agent and not a tax advisor so this advice is simply from my experience.  I wish you the best of luck with tax season and with your record keeping!

Comments (7)

Bud & Beth McKinney
RE/MAX UNITED - Cary, NC
Cary/Raleigh/Apex NC - The Team That Cares, RE/MAX United

Tax season here agin...oh boy. Yeah, doing all the donations is difficult. Any easy tips are helpful. 

Feb 20, 2012 11:36 PM
Jo Olson
HOMEFRONT Realty - Kettle Falls, WA
Retired - HOMEFRONT Realty @ LAKE Roosevelt

This is why I donate but don't take the deduction.  Never heard of the photo thing! 

 

Feb 20, 2012 11:36 PM
Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

Good grief.  Good suggestion, but next they will want thumb printin blood.

Feb 20, 2012 11:39 PM
David Spencer
Keller Williams Northland - Kansas City, MO
Show Me real estate in Kansas City

Happy to hear that the IRS did not slap the cuffs on you.

Feb 21, 2012 12:03 AM
Cynthia Grimes
eXp Realty, LLC - Westminster, MD
"With You Every Step Home!"

Oh goodness David you make that sound scary!!!  If you do the right thing and keep good records that is all you can do.

Feb 21, 2012 12:32 AM
Debbie Walsh
Shahar Management - Middletown, NY
Hudson Valley NY Real Estate 845.283-3036

Cynthia did you see yesterday's post that I sent to you?  I hope so!   :-)

Feb 21, 2012 09:05 AM
Cynthia Grimes
eXp Realty, LLC - Westminster, MD
"With You Every Step Home!"

Debra, I saw the post you sent this evening!!  Thank you!! It is great getting to know you on Active Rain!  I appreciate yoru help!

Feb 21, 2012 10:26 AM