Chip 2004 June/CHIP_CD_2004-06.iso/bonus/buhgal/files/M12USWEB.exe/RCDATA/CABINET/money.cab/msmoney.chm/learnaboutdeductingnoncashcharitablecontributions.xml

Extensible Markup Language | 2003-06-18 | 2KB | 15 lines

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<topic sku="core" tNum="288315" author="sallyh" xmlns="x-schema:hhTopicSchema.xml"><index><title>Learn about deducting non-cash charitable contributions</title><category>tax</category><klink type="cncpt">Tell me about deducting non-cash charitable contributions</klink></index>
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        <p>Non-cash charitable contributions are contributions other than by cash or check, such as clothing, furniture, food, real estate, stocks, and automobiles. If you donate used items, such as clothing, you can deduct the fair market value or your cost, whichever is less. If you donate investments that have gone up in value, such as stocks, and you held the investments for more than one year, you can generally deduct the investment's fair market value. If your non-cash deductions are more than than $500, you must complete and attach Form 8283. You should keep a receipt or written statement from the organization that accepted your donation. For more information, see IRS instructions for Schedule A or IRS Publication 526, Charitable Contributions, on the <alink type="xtnl" href="http://www.irs.gov">IRS Web site</alink>.</p>
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