Is a canceled check sufficient documentation for a donation of $250 or more?

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For donations of $250 or more, a canceled check alone does not meet the IRS requirements for documentation. The IRS mandates that a donor must obtain a written acknowledgment from the charitable organization receiving the donation. This acknowledgment, or substantiation, must include details such as the amount of the contribution, the date it was made, and a statement indicating whether or not the organization provided any goods or services in exchange for the donation.

This requirement is in place to ensure proper record-keeping and accountability for charitable contributions, facilitating accurate reporting on tax returns. A canceled check is a helpful piece of evidence that shows payment was made, but it lacks the specific acknowledgment from the donee organization that verifies the donation's details. Thus, written substantiation is necessary to fulfill IRS documentation requirements for contributions of this amount.

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