Question

Charitable contributions (all cash):

Boy Scouts $1,350

St.Matthews Church 3,100

U. of Nevada Medical School 26,900

Nevada Democratic Party 250

Fund-raising dinner for the Auto Museum 100 (value of dinner is $25)

What the total amount I have to take for Schedule A (Form 1040), Itemized Deduction, Line 11 "Gifts to Charity" ?????

Answer 1

A tax payer can deduct contributions to charitable organizations in the year paid. The charitable contributions can be made in the form of cash, payroll deductions, credit card charges, electronic fund transfers or by check.

The taxpayer can deduct the following cash charitable contributions as itemized deduction under Gifts to Charity

Particulars	Amount
Boy Scouts	$1,350
St. Matthews Church	$3,100
University of Nevada Medical School	$26,900
Auto Museum ($100 − $25)	$75
Total charitable cash contributions	$31,425

Note: The above charitable cash donations should not exceed 60% of Adjusted Gross Income (AGI) and the tax payer should obtain receipts for the amount of money donated. Charitable contributions to political parties or political campaign related are not deductible.