Charitable contributions made to qualified organizations through the year may help reduce your tax bill. Many organizations give donors pertinent details about their tax-deductible donation including the amount that can actually be reported on your tax return. The following tips may help ensure donation made will be beneficial on your taxes.
- Make sure you report charitable contributions on the correct form. The IRS states that form 1040 must be used to itemize deductions using Schedule A.
- Upon reporting the deduction, make sure it was made to a qualifying charitable organization. Contributions reported shouldn’t be donations made to individual or