If you itemize deductions on your 2025 individual income taxreturn, you potentially can deduct donations to qualified charities you madelast year. But your gifts must be substantiated in accordance with IRSrequirements. Exactly what’s required depends on various factors. In somecases, you must have a written acknowledgment from the charity.
Substantiating cash donations
If you made a cash gift of under$250, documentation such as a canceled check, bank statement orcredit card statement is adequate. However, if you received something in returnfor the donation, you generally must reduce your deduction by its value — andyou must have received a “contemporaneous written acknowledgment” from thecharity.
Likewise, for a donation of $250or more, you must obtain such an acknowledgment. In it, thecharitable organization must state the amount of the donation, whether youreceived any goods or services in consideration for the donation and, if youdid, the value of those goods or services.
The “contemporaneous” requirement can sometimes trip uptaxpayers. It means the earlierof:
Therefore, if you made a donation last year that requires acontemporaneous written acknowledgment but you haven’t yet received it from thecharity, it’s not too late — as long as you haven’t filed your 2025 return.Contact the charity now and request a written acknowledgment.
Substantiating property donations
Gifts of property worth $250 or more also generally require acontemporaneous written acknowledgement from the charity. Rather than listing adollar value for the donation, it must simply include a description of theproperty. But as with cash donations of $250 or more, it must state whether youreceived any goods or services in consideration for the donation and, if youdid, the value of those goods or services.
Some types of donations require additional substantiation. Forexample, if you donate property valued at more than $500, you must attach acompleted Form 8283, “Noncash Charitable Contributions,” to your return. Andfor donated property with a value of more than $5,000, you generally mustobtain a qualified appraisal and attach an appraisal summary to your taxreturn. But donations of publicly traded securities don’t require an appraisal.
Tax-smart charitable giving
Many other rules and limits can affect your charitabledeductions. We can help you determine what you can claim on your 2025 returnand plan a tax-smart charitable giving strategy for 2026. Contact us to getstarted.
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