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 contribution charged to a credit card is considered a cash contribution for purposes of documentation requirements.
C)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.
D)All of these are true.

Question

Quizplus · Accepted Answer

All of the statements are true. If the total deduction for noncash contributions exceeds $500, Form 8283 needs to be completed. A contribution charged to a credit card is considered a cash contribution for documentation purposes. For noncash contribution, a cancelled check or a receipt from the charitable organization is required for contributions less than $250.

Which of the Following Statements Is True Regarding Documentation Requirements