(ASL) - YouTube video text script - Charitable Contributions
Hi, I’m Nico, and I work for the IRS.
Did you know that donations you make to qualified charities are deductible if you itemize deductions on your tax return?
That could mean a larger refund or it could reduce any taxes you owe.
To find out if an organization qualifies for tax-deductible donations, use our Exempt Organizations Select Check tool. Just go to irs.gov/eoselectcheck.
Remember, the amount you give is deductible only if you itemize your deductions.
In addition, you must also have the right records.
So make sure when you donate money, you get a receipt or record-of-giving that shows the name of the organization, the amount of your gift and the date you made it.
Many times cancelled checks and credit card statements are all you need to keep, though the IRS may require specific documents for larger donations.
If you donate clothes or other items, they must be in good condition or better.
Record-keeping rules vary depending on the value of the property you donate.
If you donate a car, boat or airplane to a qualified charity, you should follow the special rules that apply to vehicle donations.
Learn more by visiting IRS.gov and searching “charitable contributions.”