tax deduction on church donation

Discussion in 'Tax' started by dyu9999@gmail.com, Aug 9, 2006.

  1. Guest

    I would appreciate the following information.

    I wish to make a $5000 cash donation to Catholic church and
    also wish to be able to deduct taxes on this.

    1) Does the church need to give me some sort of proof or
    receipt on this so I can use for the proof of donation?

    2) If so, what form/paperwork(s) are they?

    Thanks
    Dave

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    , Aug 9, 2006
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  2. Missy Guest

    wrote:

    > I would appreciate the following information.
    >
    > I wish to make a $5000 cash donation to Catholic church and
    > also wish to be able to deduct taxes on this.
    >
    > 1) Does the church need to give me some sort of proof or
    > receipt on this so I can use for the proof of donation?
    >
    > 2) If so, what form/paperwork(s) are they?


    Yes, they will give you a receipt. This usually is in the
    form of a letter. This is what you use for your proof of
    donation.

    Missy Doyle

    << ======================================================= >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2006) - All rights reserved. >>
    << ======================================================= >>
     
    Missy, Aug 10, 2006
    #2
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  3. writes:

    > I wish to make a $5000 cash donation to Catholic church and
    > also wish to be able to deduct taxes on this.
    >
    > 1) Does the church need to give me some sort of proof or
    > receipt on this so I can use for the proof of donation?


    Yes. A receipt is required for any cash donation of $250 or
    more. You must have the receipt in your possession before
    you file your taxes.

    > 2) If so, what form/paperwork(s) are they?


    A letter or receipt indicating the date of the donation, the
    amount of the donation, the donor's name, the recipient of
    the donation, the recipient's non-profit status, the
    recipient's non-profit tax ID number (if they have one), and
    the fact that no goods or services were received in exchange
    for the donation.

    The odds are that your church is completely familiar with
    how to handle this.

    << ======================================================= >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2006) - All rights reserved. >>
    << ======================================================= >>
     
    Jonathan Kamens, Aug 10, 2006
    #3
  4. Phil Marti Guest

    <> wrote:

    > I wish to make a $5000 cash donation to Catholic church and
    > also wish to be able to deduct taxes on this.
    >
    > 1) Does the church need to give me some sort of proof or
    > receipt on this so I can use for the proof of donation?


    Yes. You must have a written acknowledgement from them
    stating the value of any benefits you received in exchange
    for the donation before you file your return. See IRS
    Publication 526.

    The churches I've been involved with don't send individual
    receipts to their members, but periodic reports. If you're
    not a member of this particular parish and don't plan
    further contributions there's no harm in asking them to give
    you a receipt now.

    --
    Phil Marti
    Clarksburg, MD

    << ======================================================= >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2006) - All rights reserved. >>
    << ======================================================= >>
     
    Phil Marti, Aug 10, 2006
    #4
  5. Don Priebe Guest

    > I wish to make a $5000 cash donation to Catholic church and
    > also wish to be able to deduct taxes on this.
    >
    > 1) Does the church need to give me some sort of proof or
    > receipt on this so I can use for the proof of donation?


    Yes. Under 'current' law any single donation of $250 or
    more must be acknowledged by a receipt. (The new Pension law
    just passed may have changed this to require receipts for
    all donations.)

    > 2) If so, what form/paperwork(s) are they?


    A nice 'thank you' letter will do, saying that you gave the
    money and got nothing tangible in return. The church knows
    how to do this.

    --
    Don EA in Upstate NY

    << ======================================================= >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2006) - All rights reserved. >>
    << ======================================================= >>
     
    Don Priebe, Aug 10, 2006
    #5
  6. writes:

    > I wish to make a $5000 cash donation to Catholic church and
    > also wish to be able to deduct taxes on this.


    I assume you mean you wish to deduct it from your income. In
    any event, your maximum tax savings will be the amount of
    the donation times your tax bracket rate. So if you are in
    the 25% bracket, you'll save at most around $1250 in taxes.

    > 1) Does the church need to give me some sort of proof or
    > receipt on this so I can use for the proof of donation?


    Yes. And that's true even if you meant "check" when you
    said "cash". For donations of over $250 at a shot, a
    cancelled check is *not* sufficient.

    > 2) If so, what form/paperwork(s) are they?


    A letter/note from the church saying how much the donation
    was, when it was made, and stating that you received no
    goods or services in return for the donation. And
    preferably on church letterhead and signed by an appropriate
    officer (such as the pastor or the parish treasurer).

    See the IRS publication on charitable donations (I think
    that's Publication 526).

    --
    Rich Carreiro

    << ======================================================= >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2006) - All rights reserved. >>
    << ======================================================= >>
     
    Rich Carreiro, Aug 10, 2006
    #6
  7. Bill Guest

    (Dave) posted:

    > I would appreciate the following information.
    > I wish to make a $5000 cash donation to
    > Catholic church and also wish to be able to
    > deduct taxes on this.
    > 1) Does the church need to give me some sort
    > of proof or receipt on this so I can use for the
    > proof of donation?
    > 2) If so, what form/paperwork(s) are they?


    In this tax-savvy world of today, most churches are
    accustomed to providing statements to parishioners,
    confirming their donations and providing documentation for
    tax files. So you may not even have to ask, but you should
    inquire, and I'm sure they'll be happy to confirm your
    donation in some manner.

    You would simply keep the receipt with your tax records for
    the year in question (presumably 2006), and it would be
    available should the IRS ever query your itemized
    deductions.

    Bill

    << ======================================================= >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2006) - All rights reserved. >>
    << ======================================================= >>
     
    Bill, Aug 10, 2006
    #7
  8. Herb Smith Guest

    wrote:

    > I would appreciate the following information.
    >
    > I wish to make a $5000 cash donation to Catholic church and
    > also wish to be able to deduct taxes on this.
    >
    > 1) Does the church need to give me some sort of proof or
    > receipt on this so I can use for the proof of donation?
    >
    > 2) If so, what form/paperwork(s) are they?


    Any cash gift of $250 or more requires that you receive a
    "receipt" from the church, indicating the amount and
    containing the statement that "no goods or services" were
    received in exchange for your donation. This "receipt" can
    take any form (letter, preprinted form, etc), and should be
    retained in your tax records. It is not necessary to attach
    the receipt to your tax return - unless specifically
    requested.

    Of course, to claim any deduction for such donation, your
    TOTAL itemized deductions must exceed the Standard Deduction
    for your filing status. If less, you get no additional tax
    benefit from your donation.

    << ======================================================= >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2006) - All rights reserved. >>
    << ======================================================= >>
     
    Herb Smith, Aug 10, 2006
    #8
  9. <> wrote:

    > I would appreciate the following information.
    >
    > I wish to make a $5000 cash donation to Catholic church and
    > also wish to be able to deduct taxes on this.
    >
    > 1) Does the church need to give me some sort of proof or
    > receipt on this so I can use for the proof of donation?
    >
    > 2) If so, what form/paperwork(s) are they?


    The donee organization has to provide written acknowledgment
    - there is no speicified form or format

    ___________________________________
    <<< Benjamin Yazersky, CPA [NJ & NY] >>>
    -----> real address on hobokeni or hobokenx <-----

    << ======================================================= >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2006) - All rights reserved. >>
    << ======================================================= >>
     
    Benjamin Yazersky CPA, Aug 10, 2006
    #9
  10. Wayne Rivers Guest

    > I would appreciate the following information.
    >
    > I wish to make a $5000 cash donation to Catholic church and
    > also wish to be able to deduct taxes on this.
    >
    > 1) Does the church need to give me some sort of proof or
    > receipt on this so I can use for the proof of donation?


    For this amount, they do need to give you proof of receipt.
    You will need some corroborating support for your deduction.

    > 2) If so, what form/paperwork(s) are they?


    A thank you letter on their letterhead will work best.

    Hope this helps,

    Wayne Rivers, CPA

    << ======================================================= >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2006) - All rights reserved. >>
    << ======================================================= >>
     
    Wayne Rivers, Aug 10, 2006
    #10
  11. JMc Guest

    > I wish to make a $5000 cash donation to Catholic church and
    > also wish to be able to deduct taxes on this.
    >
    > 1) Does the church need to give me some sort of proof or
    > receipt on this so I can use for the proof of donation?
    >
    > 2) If so, what form/paperwork(s) are they?


    No forms, just a letter. A 501(c)(3) is required to give
    you a letter detailing your cash contribution if you gift
    $250 or more.

    I'm not sure of how it works with churches. Usually, after
    the end of a year, the church would give you a statement of
    your tithes made during the year.

    The letter or statement would be enough substantiation for
    the contribution.

    Josh

    << ======================================================= >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2006) - All rights reserved. >>
    << ======================================================= >>
     
    JMc, Aug 10, 2006
    #11
  12. Bill Brown Guest

    wrote:

    > I would appreciate the following information.
    >
    > I wish to make a $5000 cash donation to Catholic church and
    > also wish to be able to deduct taxes on this.
    >
    > 1) Does the church need to give me some sort of proof or
    > receipt on this so I can use for the proof of donation?


    Yes. In fact, they are required by law to do so.

    > 2) If so, what form/paperwork(s) are they?


    A statement from the church stating the amount of the
    donation with an explicit statement of the value of any
    benefit you received other than feeling good about yourself
    or being spiritually uplifted (or something like that).

    << ======================================================= >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2006) - All rights reserved. >>
    << ======================================================= >>
     
    Bill Brown, Aug 10, 2006
    #12
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