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Planned Giving

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Donations and Record Keeping

How much do you know about making donations and the records that you should be keeping?

  • 1. With all single charitable contributions valued at $250 or more, or cash gifts of any amount, you need to have a receipt or written acknowledgment including which piece of information?
  • A. A description and estimate of the value of any goods or services provided
  • B. The amount of cash and description of any property given
  • C. The date of the gift
  • D. All of the above

  • 2. If you make a donation of $250 or more, you must send the receipt to the IRS.
  • A. True
  • B. False

  • 3. If you make a gift of property valued at more than $500, what additional records, if any, do you need?
  • A. Information on how you got the property on IRS Form 8283
  • B. Only the receipt from the organization
  • C. An appraisal
  • D. None of the above

  • 4. If you want to deduct more than $5,000 for your gift, what do you need to obtain?
  • A. A simple, written acknowledgment from the organization
  • B. A special, written document from the organization, not a simple written acknowledgment
  • C. A qualified written appraisal for all gifts except cash or marketable securities
  • D. None of the above

  • 5. If you receive tax statements informing you of how much income you received from your gift during the year and how it's taxed, what do you need to do with them?
  • A. Keep the forms in the event you are ever audited by the IRS
  • B. Submit all the forms with your federal income tax return
  • C. Do not submit the forms with your federal income tax return, but do submit them directly to the IRS
  • D. File a separate form that combines all the information for the year




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The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.