Which of the following statements is true regarding documentation requirements for charitable contributions?
A)If the total deduction for all noncash contributions for the year is more than $500,Section A of Form 8283,Noncash Charitable Contributions,must be completed.
B)A noncash contribution of less than $250 must be supported by a cancelled check,or a receipt,or other written acknowledgement from the charitable organization.
C)A contribution charged to a credit card is considered a cash contribution for purposes of documentation requirements.
D)All of the above are true.

Question

Quizplus · Accepted Answer

A noncash charitable contribution of $500 or more requires completion of Section A of Form 8283. Noncash contributions under $250 can be supported by a cancelled check, receipt, or other written acknowledgement from the charity. Contributions charged to a credit card are considered cash contributions for documentation purposes. Therefore, all three statements are true.

Which of the Following Statements Is True Regarding Documentation Requirements