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Can I Still File 2012 Taxes Online

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Can I Still File 2012 Taxes Online

Can i still file 2012 taxes online 9. Can i still file 2012 taxes online   Education Exception to Additional Tax on Early IRA Distributions Table of Contents Introduction Who Is Eligible Figuring the Amount Not Subject to the 10% Tax Reporting Early Distributions Introduction Generally, if you take a distribution from your IRA before you reach age 59½, you must pay a 10% additional tax on the early distribution. Can i still file 2012 taxes online This applies to any IRA you own, whether it is a traditional IRA (including a SEP-IRA), a Roth IRA, or a SIMPLE IRA. Can i still file 2012 taxes online The additional tax on an early distribution from a SIMPLE IRA may be as high as 25%. Can i still file 2012 taxes online See Publication 560, Retirement Plans for Small Business, for information on SEP-IRAs, and Publication 590, for information about all other IRAs. Can i still file 2012 taxes online However, you can take distributions from your IRAs for qualified higher education expenses without having to pay the 10% additional tax. Can i still file 2012 taxes online You may owe income tax on at least part of the amount distributed, but you may not have to pay the 10% additional tax. Can i still file 2012 taxes online Generally, if the taxable part of the distribution is less than or equal to the adjusted qualified education expenses (AQEE), none of the distribution is subject to the additional tax. Can i still file 2012 taxes online If the taxable part of the distribution is more than the AQEE, only the excess is subject to the additional tax. Can i still file 2012 taxes online Who Is Eligible You can take a distribution from your IRA before you reach age 59½ and not have to pay the 10% additional tax if, for the year of the distribution, you pay qualified education expenses for: yourself, your spouse, or your or your spouse's child, foster child, adopted child, or descendant of any of them. Can i still file 2012 taxes online Qualified education expenses. Can i still file 2012 taxes online   For purposes of the 10% additional tax, these expenses are tuition, fees, books, supplies, and equipment required for enrollment or attendance at an eligible educational institution. Can i still file 2012 taxes online They also include expenses for special needs services incurred by or for special needs students in connection with their enrollment or attendance. Can i still file 2012 taxes online   In addition, if the student is at least a half-time student, room and board are qualified education expenses. Can i still file 2012 taxes online   The expense for room and board qualifies only to the extent that it is not more than the greater of the following two amounts. Can i still file 2012 taxes online The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student. Can i still file 2012 taxes online The actual amount charged if the student is residing in housing owned or operated by the eligible educational institution. Can i still file 2012 taxes online You will need to contact the eligible educational institution for qualified room and board costs. Can i still file 2012 taxes online Eligible educational institution. Can i still file 2012 taxes online   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. Can i still file 2012 taxes online S. Can i still file 2012 taxes online Department of Education. Can i still file 2012 taxes online It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Can i still file 2012 taxes online The educational institution should be able to tell you if it is an eligible educational institution. Can i still file 2012 taxes online   Certain educational institutions located outside the United States also participate in the U. Can i still file 2012 taxes online S. Can i still file 2012 taxes online Department of Education's Federal Student Aid (FSA) programs. Can i still file 2012 taxes online Half-time student. Can i still file 2012 taxes online   A student is enrolled “at least half-time” if he or she is enrolled for at least half the full-time academic work load for the course of study the student is pursuing as determined under the standards of the school where the student is enrolled. Can i still file 2012 taxes online Figuring the Amount Not Subject to the 10% Tax To determine the amount of your distribution that is not subject to the 10% additional tax, first figure your adjusted qualified education expenses. Can i still file 2012 taxes online You do this by reducing your total qualified education expenses by any tax-free educational assistance, which includes: Expenses used to figure the tax-free portion of distributions from a Coverdell education savings account (ESA) (see Distributions in chapter 7, Coverdell Education Savings Account), The tax-free part of scholarships and fellowships (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Pell grants (see Pell Grants and Other Title IV Need-Based Education Grants in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. Can i still file 2012 taxes online Do not reduce the qualified education expenses by amounts paid with funds the student receives as: Payment for services, such as wages, A loan, A gift, An inheritance given to either the student or the individual making the withdrawal, or A withdrawal from personal savings (including savings from a qualified tuition program (QTP)). Can i still file 2012 taxes online If your IRA distribution is equal to or less than your adjusted qualified education expenses, you are not subject to the 10% additional tax. Can i still file 2012 taxes online Example 1. Can i still file 2012 taxes online In 2013, Erin (age 32) took a year off from teaching to attend graduate school full-time. Can i still file 2012 taxes online She paid $5,800 of qualified education expenses from the following sources. Can i still file 2012 taxes online   Employer-provided educational assistance  (tax free) $5,000     Early distribution from IRA (includes $500 taxable earnings) 3,200           Before Erin can determine if she must pay the 10% additional tax on her IRA distribution, she must reduce her total qualified education expenses. Can i still file 2012 taxes online   Total qualified education expenses $5,800     Minus: Tax-free educational assistance −5,000     Equals: Adjusted qualified  education expenses (AQEE) $ 800   Because Erin's AQEE ($800) are more than the taxable portion of her IRA distribution ($500), she does not have to pay the 10% additional tax on any part of this distribution. Can i still file 2012 taxes online However, she must include the $500 taxable earnings in her gross income subject to income tax. Can i still file 2012 taxes online Example 2. Can i still file 2012 taxes online Assume the same facts as in Example 1 , except that Erin deducted some of the contributions to her IRA, so the taxable part of her early distribution is higher by $1,000. Can i still file 2012 taxes online This must be included in her income subject to income tax. Can i still file 2012 taxes online The taxable part of Erin's IRA distribution ($1,000) is larger than her $800 AQEE. Can i still file 2012 taxes online Therefore, she must pay the 10% additional tax on $200, the taxable part of her distribution ($1,000) that is more than her qualified education expenses ($800). Can i still file 2012 taxes online She does not have to pay the 10% additional tax on the remaining $800 of her taxable distribution. Can i still file 2012 taxes online Reporting Early Distributions By January 31, 2014, the payer of your IRA distribution should send you Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Can i still file 2012 taxes online The information on this form will help you determine how much of your distribution is taxable for income tax purposes and how much is subject to the 10% additional tax. Can i still file 2012 taxes online If you received an early distribution from your IRA, you must report the taxable earnings on Form 1040, line 15b (Form 1040NR, line 16b). Can i still file 2012 taxes online Then, if you qualify for an exception for qualified higher education expenses, you must file Form 5329 to show how much, if any, of your early distribution is subject to the 10% additional tax. Can i still file 2012 taxes online See the Instructions for Form 5329, Part I, for help in completing the form and entering the results on Form 1040 or 1040NR. Can i still file 2012 taxes online There are many other situations in which Form 5329 is required. Can i still file 2012 taxes online If, during 2013, you had other distributions from IRAs or qualified retirement plans, or have made excess contributions to certain tax-favored accounts, see the instructions for line 58 (Form 1040) or line 56 (Form 1040NR) to determine if you must file Form 5329. Can i still file 2012 taxes online Prev  Up  Next   Home   More Online Publications
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Can i still file 2012 taxes online 24. Can i still file 2012 taxes online   Contributions Table of Contents Introduction Useful Items - You may want to see: Organizations That Qualify To Receive Deductible ContributionsTypes of Qualified Organizations Contributions You Can DeductContributions From Which You Benefit Expenses Paid for Student Living With You Out-of-Pocket Expenses in Giving Services Contributions You Cannot DeductContributions to Individuals Contributions to Nonqualified Organizations Contributions From Which You Benefit Value of Time or Services Personal Expenses Appraisal Fees Contributions of PropertyException. Can i still file 2012 taxes online Household items. Can i still file 2012 taxes online Deduction more than $500. Can i still file 2012 taxes online Form 1098-C. Can i still file 2012 taxes online Filing deadline approaching and still no Form 1098-C. Can i still file 2012 taxes online Exception 1—vehicle used or improved by organization. Can i still file 2012 taxes online Exception 2—vehicle given or sold to needy individual. Can i still file 2012 taxes online Deduction $500 or less. Can i still file 2012 taxes online Right to use property. Can i still file 2012 taxes online Tangible personal property. Can i still file 2012 taxes online Future interest. Can i still file 2012 taxes online Determining Fair Market Value Giving Property That Has Decreased in Value Giving Property That Has Increased in Value When To DeductChecks. Can i still file 2012 taxes online Text message. Can i still file 2012 taxes online Credit card. Can i still file 2012 taxes online Pay-by-phone account. Can i still file 2012 taxes online Stock certificate. Can i still file 2012 taxes online Promissory note. Can i still file 2012 taxes online Option. Can i still file 2012 taxes online Borrowed funds. Can i still file 2012 taxes online Limits on DeductionsCarryovers Records To KeepCash Contributions Noncash Contributions Out-of-Pocket Expenses How To Report Introduction This chapter explains how to claim a deduction for your charitable contributions. Can i still file 2012 taxes online It discusses the following topics. Can i still file 2012 taxes online The types of organizations to which you can make deductible charitable contributions. Can i still file 2012 taxes online The types of contributions you can deduct. Can i still file 2012 taxes online How much you can deduct. Can i still file 2012 taxes online What records you must keep. Can i still file 2012 taxes online How to report your charitable contributions. Can i still file 2012 taxes online A charitable contribution is a donation or gift to, or for the use of, a qualified organization. Can i still file 2012 taxes online It is voluntary and is made without getting, or expecting to get, anything of equal value. Can i still file 2012 taxes online Form 1040 required. Can i still file 2012 taxes online    To deduct a charitable contribution, you must file Form 1040 and itemize deductions on Schedule A. Can i still file 2012 taxes online The amount of your deduction may be limited if certain rules and limits explained in this chapter apply to you. Can i still file 2012 taxes online The limits are explained in detail in Publication 526. Can i still file 2012 taxes online Useful Items - You may want to see: Publication 526 Charitable Contributions 561 Determining the Value of Donated Property Form (and Instructions) Schedule A (Form 1040) Itemized Deductions 8283 Noncash Charitable Contributions Organizations That Qualify To Receive Deductible Contributions You can deduct your contributions only if you make them to a qualified organization. Can i still file 2012 taxes online Most organizations other than churches and governments must apply to the IRS to become a qualified organization. Can i still file 2012 taxes online How to check whether an organization can receive deductible charitable contributions. Can i still file 2012 taxes online   You can ask any organization whether it is a qualified organization, and most will be able to tell you. Can i still file 2012 taxes online Or go to IRS. Can i still file 2012 taxes online gov. Can i still file 2012 taxes online Click on “Tools” and then on “Exempt Organizations Select Check” (www. Can i still file 2012 taxes online irs. Can i still file 2012 taxes online gov/Charities-&-Non-Profits/Exempt-Organizations-Select-Check). Can i still file 2012 taxes online This online tool will enable you to search for qualified organizations. Can i still file 2012 taxes online You can also call the IRS to find out if an organization is qualified. Can i still file 2012 taxes online Call 1-877-829-5500. Can i still file 2012 taxes online People who are deaf, hard of hearing, or have a speech disability and who have access to TTY/TDD equipment can call 1-800-829-4059. Can i still file 2012 taxes online Deaf or hard of hearing individuals can also contact the IRS through relay services such as the Federal Relay Service at www. Can i still file 2012 taxes online gsa. Can i still file 2012 taxes online gov/fedrelay. Can i still file 2012 taxes online Types of Qualified Organizations Generally, only the following types of organizations can be qualified organizations. Can i still file 2012 taxes online A community chest, corporation, trust, fund, or foundation organized or created in or under the laws of the United States, any state, the District of Columbia, or any possession of the United States (including Puerto Rico). Can i still file 2012 taxes online It must, however, be organized and operated only for charitable, religious, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Can i still file 2012 taxes online Certain organizations that foster national or international amateur sports competition also qualify. Can i still file 2012 taxes online War veterans' organizations, including posts, auxiliaries, trusts, or foundations, organized in the United States or any of its possessions (including Puerto Rico). Can i still file 2012 taxes online Domestic fraternal societies, orders, and associations operating under the lodge system. Can i still file 2012 taxes online (Your contribution to this type of organization is deductible only if it is to be used solely for charitable, religious, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Can i still file 2012 taxes online ) Certain nonprofit cemetery companies or corporations. Can i still file 2012 taxes online (Your contribution to this type of organization is not deductible if it can be used for the care of a specific lot or mausoleum crypt. Can i still file 2012 taxes online ) The United States or any state, the District of Columbia, a U. Can i still file 2012 taxes online S. Can i still file 2012 taxes online possession (including Puerto Rico), a political subdivision of a state or U. Can i still file 2012 taxes online S. Can i still file 2012 taxes online possession, or an Indian tribal government or any of its subdivisions that perform substantial government functions. Can i still file 2012 taxes online (Your contribution to this type of organization is only deductible if it is to be used solely for public purposes. Can i still file 2012 taxes online ) Examples. Can i still file 2012 taxes online    The following list gives some examples of qualified organizations. Can i still file 2012 taxes online Churches, a convention or association of churches, temples, synagogues, mosques, and other religious organizations. Can i still file 2012 taxes online Most nonprofit charitable organizations such as the American Red Cross and the United Way. Can i still file 2012 taxes online Most nonprofit educational organizations, including the Boy Scouts of America, Girl Scouts of America, colleges, and museums. Can i still file 2012 taxes online This also includes nonprofit daycare centers that provide childcare to the general public if substantially all the childcare is provided to enable parents and guardians to be gainfully employed. Can i still file 2012 taxes online However, if your contribution is a substitute for tuition or other enrollment fee, it is not deductible as a charitable contribution, as explained later under Contributions You Cannot Deduct . Can i still file 2012 taxes online Nonprofit hospitals and medical research organizations. Can i still file 2012 taxes online Utility company emergency energy programs, if the utility company is an agent for a charitable organization that assists individuals with emergency energy needs. Can i still file 2012 taxes online Nonprofit volunteer fire companies. Can i still file 2012 taxes online Nonprofit organizations that develop and maintain public parks and recreation facilities. Can i still file 2012 taxes online Civil defense organizations. Can i still file 2012 taxes online Certain foreign charitable organizations. Can i still file 2012 taxes online   Under income tax treaties with Canada, Israel, and Mexico, you may be able to deduct contributions to certain Canadian, Israeli, or Mexican charitable organizations. Can i still file 2012 taxes online Generally, you must have income from sources in that country. Can i still file 2012 taxes online For additional information on the deduction of contributions to Canadian charities, see Publication 597, Information on the United States–Canada Income Tax Treaty. Can i still file 2012 taxes online If you need more information on how to figure your contribution to Mexican and Israeli charities, see Publication 526. Can i still file 2012 taxes online Contributions You Can Deduct Generally, you can deduct contributions of money or property you make to, or for the use of, a qualified organization. Can i still file 2012 taxes online A contribution is “for the use of” a qualified organization when it is held in a legally enforceable trust for the qualified organization or in a similar legal arrangement. Can i still file 2012 taxes online The contributions must be made to a qualified organization and not set aside for use by a specific person. Can i still file 2012 taxes online If you give property to a qualified organization, you generally can deduct the fair market value of the property at the time of the contribution. Can i still file 2012 taxes online See Contributions of Property , later in this chapter. Can i still file 2012 taxes online Your deduction for charitable contributions generally cannot be more than 50% of your adjusted gross income (AGI), but in some cases 20% and 30% limits may apply. Can i still file 2012 taxes online See Limits on Deductions , later. Can i still file 2012 taxes online In addition, the total of your charitable contribution deduction and certain other itemized deductions may be limited. Can i still file 2012 taxes online See chapter 29. Can i still file 2012 taxes online Table 24-1 gives examples of contributions you can and cannot deduct. Can i still file 2012 taxes online Contributions From Which You Benefit If you receive a benefit as a result of making a contribution to a qualified organization, you can deduct only the amount of your contribution that is more than the value of the benefit you receive. Can i still file 2012 taxes online Also see Contributions From Which You Benefit under Contributions You Cannot Deduct, later. Can i still file 2012 taxes online If you pay more than fair market value to a qualified organization for goods or services, the excess may be a charitable contribution. Can i still file 2012 taxes online For the excess amount to qualify, you must pay it with the intent to make a charitable contribution. Can i still file 2012 taxes online Example 1. Can i still file 2012 taxes online You pay $65 for a ticket to a dinner-dance at a church. Can i still file 2012 taxes online Your entire $65 payment goes to the church. Can i still file 2012 taxes online The ticket to the dinner-dance has a fair market value of $25. Can i still file 2012 taxes online When you buy your ticket, you know that its value is less than your payment. Can i still file 2012 taxes online To figure the amount of your charitable contribution, subtract the value of the benefit you receive ($25) from your total payment ($65). Can i still file 2012 taxes online You can deduct $40 as a contribution to the church. Can i still file 2012 taxes online Example 2. Can i still file 2012 taxes online At a fundraising auction conducted by a charity, you pay $600 for a week's stay at a beach house. Can i still file 2012 taxes online The amount you pay is no more than the fair rental value. Can i still file 2012 taxes online You have not made a deductible charitable contribution. Can i still file 2012 taxes online Athletic events. Can i still file 2012 taxes online   If you make a payment to, or for the benefit of, a college or university and, as a result, you receive the right to buy tickets to an athletic event in the athletic stadium of the college or university, you can deduct 80% of the payment as a charitable contribution. Can i still file 2012 taxes online   If any part of your payment is for tickets (rather than the right to buy tickets), that part is not deductible. Can i still file 2012 taxes online Subtract the price of the tickets from your payment. Can i still file 2012 taxes online You can deduct 80% of the remaining amount as a charitable contribution. Can i still file 2012 taxes online Example 1. Can i still file 2012 taxes online You pay $300 a year for membership in a university's athletic scholarship program. Can i still file 2012 taxes online The only benefit of membership is that you have the right to buy one season ticket for a seat in a designated area of the stadium at the university's home football games. Can i still file 2012 taxes online You can deduct $240 (80% of $300) as a charitable contribution. Can i still file 2012 taxes online Table 24-1. Can i still file 2012 taxes online Examples of Charitable Contributions—A Quick Check Use the following lists for a quick check of whether you can deduct a contribution. Can i still file 2012 taxes online See the rest of this chapter for more information and additional rules and limits that may apply. Can i still file 2012 taxes online Deductible As  Charitable Contributions Not Deductible  As Charitable Contributions Money or property you give to:  Churches, synagogues, temples, mosques, and other religious organizations Federal, state, and local governments, if your contribution is solely for public purposes (for example, a gift to reduce the public debt or maintain a public park) Nonprofit schools and hospitals The Salvation Army, American Red Cross, CARE, Goodwill Industries, United Way, Boy Scouts of America, Girl Scouts of America, Boys and Girls Clubs of America, etc. Can i still file 2012 taxes online War veterans groups   Expenses paid for a student living with you, sponsored by a qualified organization  Out-of-pocket expenses when you serve a qualified organization as a volunteer Money or property you give to:  Civic leagues, social and sports clubs, labor unions, and chambers of commerce Foreign organizations (except certain Canadian, Israeli, and Mexican charities) Groups that are run for personal profit Groups whose purpose is to lobby for law changes Homeowners' associations Individuals Political groups or candidates for public office   Cost of raffle, bingo, or lottery tickets  Dues, fees, or bills paid to country clubs, lodges, fraternal orders, or similar groups  Tuition  Value of your time or services  Value of blood given to a blood bank    Example 2. Can i still file 2012 taxes online The facts are the same as in Example 1 except your $300 payment includes the purchase of one season ticket for the stated ticket price of $120. Can i still file 2012 taxes online You must subtract the usual price of a ticket ($120) from your $300 payment. Can i still file 2012 taxes online The result is $180. Can i still file 2012 taxes online Your deductible charitable contribution is $144 (80% of $180). Can i still file 2012 taxes online Charity benefit events. Can i still file 2012 taxes online   If you pay a qualified organization more than fair market value for the right to attend a charity ball, banquet, show, sporting event, or other benefit event, you can deduct only the amount that is more than the value of the privileges or other benefits you receive. Can i still file 2012 taxes online   If there is an established charge for the event, that charge is the value of your benefit. Can i still file 2012 taxes online If there is no established charge, the reasonable value of the right to attend the event is the value of your benefit. Can i still file 2012 taxes online Whether you use the tickets or other privileges has no effect on the amount you can deduct. Can i still file 2012 taxes online However, if you return the ticket to the qualified organization for resale, you can deduct the entire amount you paid for the ticket. Can i still file 2012 taxes online    Even if the ticket or other evidence of payment indicates that the payment is a “contribution,” this does not mean you can deduct the entire amount. Can i still file 2012 taxes online If the ticket shows the price of admission and the amount of the contribution, you can deduct the contribution amount. Can i still file 2012 taxes online Example. Can i still file 2012 taxes online You pay $40 to see a special showing of a movie for the benefit of a qualified organization. Can i still file 2012 taxes online Printed on the ticket is “Contribution—$40. Can i still file 2012 taxes online ” If the regular price for the movie is $8, your contribution is $32 ($40 payment − $8 regular price). Can i still file 2012 taxes online Membership fees or dues. Can i still file 2012 taxes online    You may be able to deduct membership fees or dues you pay to a qualified organization. Can i still file 2012 taxes online However, you can deduct only the amount that is more than the value of the benefits you receive. Can i still file 2012 taxes online    You cannot deduct dues, fees, or assessments paid to country clubs and other social organizations. Can i still file 2012 taxes online They are not qualified organizations. Can i still file 2012 taxes online Certain membership benefits can be disregarded. Can i still file 2012 taxes online   Both you and the organization can disregard the following membership benefits if you receive them in return for an annual payment of $75 or less. Can i still file 2012 taxes online Any rights or privileges, other than those discussed under Athletic events , earlier, that you can use frequently while you are a member, such as: Free or discounted admission to the organization's facilities or events, Free or discounted parking, Preferred access to goods or services, and Discounts on the purchase of goods and services. Can i still file 2012 taxes online Admission, while you are a member, to events open only to members of the organization, if the organization reasonably projects that the cost per person (excluding any allocated overhead) is not more than $10. Can i still file 2012 taxes online 20. Can i still file 2012 taxes online Token items. Can i still file 2012 taxes online   You do not have to reduce your contribution by the value of any benefit you receive if both of the following are true. Can i still file 2012 taxes online You receive only a small item or other benefit of token value. Can i still file 2012 taxes online The qualified organization correctly determines that the value of the item or benefit you received is not substantial and informs you that you can deduct your payment in full. Can i still file 2012 taxes online Written statement. Can i still file 2012 taxes online   A qualified organization must give you a written statement if you make a payment of more than $75 that is partly a contribution and partly for goods or services. Can i still file 2012 taxes online The statement must say that you can deduct only the amount of your payment that is more than the value of the goods or services you received. Can i still file 2012 taxes online It must also give you a good faith estimate of the value of those goods or services. Can i still file 2012 taxes online   The organization can give you the statement either when it solicits or when it receives the payment from you. Can i still file 2012 taxes online Exception. Can i still file 2012 taxes online   An organization will not have to give you this statement if one of the following is true. Can i still file 2012 taxes online The organization is: A governmental organization described in (5) under Types of Qualified Organizations , earlier, or An organization formed only for religious purposes, and the only benefit you receive is an intangible religious benefit (such as admission to a religious ceremony) that generally is not sold in commercial transactions outside the donative context. Can i still file 2012 taxes online You receive only items whose value is not substantial as described under Token items , earlier. Can i still file 2012 taxes online You receive only membership benefits that can be disregarded, as described earlier. Can i still file 2012 taxes online Expenses Paid for Student Living With You You may be able to deduct some expenses of having a student live with you. Can i still file 2012 taxes online You can deduct qualifying expenses for a foreign or American student who: Lives in your home under a written agreement between you and a qualified organization as part of a program of the organization to provide educational opportunities for the student, Is not your relative or dependent, and Is a full-time student in the twelfth or any lower grade at a school in the United States. Can i still file 2012 taxes online You can deduct up to $50 a month for each full calendar month the student lives with you. Can i still file 2012 taxes online Any month when conditions (1) through (3) are met for 15 days or more counts as a full month. Can i still file 2012 taxes online For additional information, see Expenses Paid for Student Living With You in Publication 526. Can i still file 2012 taxes online Mutual exchange program. Can i still file 2012 taxes online   You cannot deduct the costs of a foreign student living in your home under a mutual exchange program through which your child will live with a family in a foreign country. Can i still file 2012 taxes online Table 24-2. Can i still file 2012 taxes online Volunteers' Questions and Answers If you volunteer for a qualified organization, the following questions and answers may apply to you. Can i still file 2012 taxes online All of the rules explained in this chapter also apply. Can i still file 2012 taxes online See, in particular, Out-of-Pocket Expenses in Giving Services . Can i still file 2012 taxes online Question Answer I volunteer 6 hours a week in the office of a qualified organization. Can i still file 2012 taxes online The receptionist is paid $10 an hour for the same work. Can i still file 2012 taxes online Can I deduct $60 a week for my time?    No, you cannot deduct the value of your time or services. Can i still file 2012 taxes online The office is 30 miles from my home. Can i still file 2012 taxes online Can I deduct any of my car expenses for these trips? Yes, you can deduct the costs of gas and oil that are directly related to getting to and from the place where you volunteer. Can i still file 2012 taxes online If you don't want to figure your actual costs, you can deduct 14 cents for each mile. Can i still file 2012 taxes online I volunteer as a Red Cross nurse's aide at a hospital. Can i still file 2012 taxes online Can I deduct the cost of the uniforms I must wear? Yes, you can deduct the cost of buying and cleaning your uniforms if the hospital is a qualified organization, the uniforms are not suitable for everyday use, and you must wear them when volunteering. Can i still file 2012 taxes online I pay a babysitter to watch my children while I volunteer for a qualified organization. Can i still file 2012 taxes online Can I deduct these costs? No, you cannot deduct payments for childcare expenses as a charitable contribution, even if you would be unable to volunteer without childcare. Can i still file 2012 taxes online (If you have childcare expenses so you can work for pay, see chapter 32. Can i still file 2012 taxes online ) Out-of-Pocket Expenses in Giving Services Although you cannot deduct the value of your services given to a qualified organization, you may be able to deduct some amounts you pay in giving services to a qualified organization. Can i still file 2012 taxes online The amounts must be: Unreimbursed, Directly connected with the services, Expenses you had only because of the services you gave, and Not personal, living, or family expenses. Can i still file 2012 taxes online Table 24-2 contains questions and answers that apply to some individuals who volunteer their services. Can i still file 2012 taxes online Conventions. Can i still file 2012 taxes online   If a qualified organization selects you to attend a convention as its representative, you can deduct unreimbursed expenses for travel, including reasonable amounts for meals and lodging, while away from home overnight in connection with the convention. Can i still file 2012 taxes online However, see Travel , later. Can i still file 2012 taxes online   You cannot deduct personal expenses for sightseeing, fishing parties, theater tickets, or nightclubs. Can i still file 2012 taxes online You also cannot deduct transportation, meals and lodging, and other expenses for your spouse or children. Can i still file 2012 taxes online    You cannot deduct your travel expenses in attending a church convention if you go only as a member of your church rather than as a chosen representative. Can i still file 2012 taxes online You can, however, deduct unreimbursed expenses that are directly connected with giving services for your church during the convention. Can i still file 2012 taxes online Uniforms. Can i still file 2012 taxes online   You can deduct the cost and upkeep of uniforms that are not suitable for everyday use and that you must wear while performing donated services for a charitable organization. Can i still file 2012 taxes online Foster parents. Can i still file 2012 taxes online   You may be able to deduct as a charitable contribution some of the costs of being a foster parent (foster care provider) if you have no profit motive in providing the foster care and are not, in fact, making a profit. Can i still file 2012 taxes online A qualified organization must select the individuals you take into your home for foster care. Can i still file 2012 taxes online    You can deduct expenses that meet both of the following requirements. Can i still file 2012 taxes online They are unreimbursed out-of-pocket expenses to feed, clothe, and care for the foster child. Can i still file 2012 taxes online They are incurred primarily to benefit the qualified organization. Can i still file 2012 taxes online   Unreimbursed expenses that you cannot deduct as charitable contributions may be considered support provided by you in determining whether you can claim the foster child as a dependent. Can i still file 2012 taxes online For details, see chapter 3. Can i still file 2012 taxes online Example. Can i still file 2012 taxes online You cared for a foster child because you wanted to adopt her, not to benefit the agency that placed her in your home. Can i still file 2012 taxes online Your unreimbursed expenses are not deductible as charitable contributions. Can i still file 2012 taxes online Car expenses. Can i still file 2012 taxes online   You can deduct as a charitable contribution any unreimbursed out-of-pocket expenses, such as the cost of gas and oil, that are directly related to the use of your car in giving services to a charitable organization. Can i still file 2012 taxes online You cannot deduct general repair and maintenance expenses, depreciation, registration fees, or the costs of tires or insurance. Can i still file 2012 taxes online    If you do not want to deduct your actual expenses, you can use a standard mileage rate of 14 cents a mile to figure your contribution. Can i still file 2012 taxes online   You can deduct parking fees and tolls whether you use your actual expenses or the standard mileage rate. Can i still file 2012 taxes online   You must keep reliable written records of your car expenses. Can i still file 2012 taxes online For more information, see Car expenses under Records To Keep, later. Can i still file 2012 taxes online Travel. Can i still file 2012 taxes online   Generally, you can claim a charitable contribution deduction for travel expenses necessarily incurred while you are away from home performing services for a charitable organization only if there is no significant element of personal pleasure, recreation, or vacation in the travel. Can i still file 2012 taxes online This applies whether you pay the expenses directly or indirectly. Can i still file 2012 taxes online You are paying the expenses indirectly if you make a payment to the charitable organization and the organization pays for your travel expenses. Can i still file 2012 taxes online   The deduction for travel expenses will not be denied simply because you enjoy providing services to the charitable organization. Can i still file 2012 taxes online Even if you enjoy the trip, you can take a charitable contribution deduction for your travel expenses if you are on duty in a genuine and substantial sense throughout the trip. Can i still file 2012 taxes online However, if you have only nominal duties, or if for significant parts of the trip you do not have any duties, you cannot deduct your travel expenses. Can i still file 2012 taxes online Example 1. Can i still file 2012 taxes online You are a troop leader for a tax-exempt youth group and you take the group on a camping trip. Can i still file 2012 taxes online You are responsible for overseeing the setup of the camp and for providing adult supervision for other activities during the entire trip. Can i still file 2012 taxes online You participate in the activities of the group and enjoy your time with them. Can i still file 2012 taxes online You oversee the breaking of camp and you transport the group home. Can i still file 2012 taxes online You can deduct your travel expenses. Can i still file 2012 taxes online Example 2. Can i still file 2012 taxes online You sail from one island to another and spend 8 hours a day counting whales and other forms of marine life. Can i still file 2012 taxes online The project is sponsored by a charitable organization. Can i still file 2012 taxes online In most circumstances, you cannot deduct your expenses. Can i still file 2012 taxes online Example 3. Can i still file 2012 taxes online You work for several hours each morning on an archaeological dig sponsored by a charitable organization. Can i still file 2012 taxes online The rest of the day is free for recreation and sightseeing. Can i still file 2012 taxes online You cannot take a charitable contribution deduction even though you work very hard during those few hours. Can i still file 2012 taxes online Example 4. Can i still file 2012 taxes online You spend the entire day attending a charitable organization's regional meeting as a chosen representative. Can i still file 2012 taxes online In the evening you go to the theater. Can i still file 2012 taxes online You can claim your travel expenses as charitable contributions, but you cannot claim the cost of your evening at the theater. Can i still file 2012 taxes online Daily allowance (per diem). Can i still file 2012 taxes online   If you provide services for a charitable organization and receive a daily allowance to cover reasonable travel expenses, including meals and lodging while away from home overnight, you must include in income any part of the allowance that is more than your deductible travel expenses. Can i still file 2012 taxes online You may be able to deduct any necessary travel expenses that are more than the allowance. Can i still file 2012 taxes online Deductible travel expenses. Can i still file 2012 taxes online   These include: Air, rail, and bus transportation, Out-of-pocket expenses for your car, Taxi fares or other costs of transportation between the airport or station and your hotel, Lodging costs, and The cost of meals. Can i still file 2012 taxes online Because these travel expenses are not business-related, they are not subject to the same limits as business-related expenses. Can i still file 2012 taxes online For information on business travel expenses, see Travel Expenses in chapter 26. Can i still file 2012 taxes online Contributions You Cannot Deduct There are some contributions you cannot deduct, such as those made to specific individuals and those made to nonqualified organizations. Can i still file 2012 taxes online (See Contributions to Individuals and Contributions to Nonqualified Organizations , next. Can i still file 2012 taxes online ) There are others you can deduct only part of, as discussed later under Contributions From Which You Benefit . Can i still file 2012 taxes online Contributions to Individuals You cannot deduct contributions to specific individuals, including the following. Can i still file 2012 taxes online Contributions to fraternal societies made for the purpose of paying medical or burial expenses of deceased members. Can i still file 2012 taxes online Contributions to individuals who are needy or worthy. Can i still file 2012 taxes online You cannot deduct these contributions even if you make them to a qualified organization for the benefit of a specific person. Can i still file 2012 taxes online But you can deduct a contribution to a qualified organization that helps needy or worthy individuals if you do not indicate that your contribution is for a specific person. Can i still file 2012 taxes online Example. Can i still file 2012 taxes online You can deduct contributions to a qualified organization for flood relief, hurricane relief, or other disaster relief. Can i still file 2012 taxes online However, you cannot deduct contributions earmarked for relief of a particular individual or family. Can i still file 2012 taxes online Payments to a member of the clergy that can be spent as he or she wishes, such as for personal expenses. Can i still file 2012 taxes online Expenses you paid for another person who provided services to a qualified organization. Can i still file 2012 taxes online Example. Can i still file 2012 taxes online Your son does missionary work. Can i still file 2012 taxes online You pay his expenses. Can i still file 2012 taxes online You cannot claim a deduction for your son's unreimbursed expenses related to his contribution of services. Can i still file 2012 taxes online Payments to a hospital that are for a specific patient's care or for services for a specific patient. Can i still file 2012 taxes online You cannot deduct these payments even if the hospital is operated by a city, a state, or other qualified organization. Can i still file 2012 taxes online Contributions to Nonqualified Organizations You cannot deduct contributions to organizations that are not qualified to receive tax-deductible contributions, including the following. Can i still file 2012 taxes online Certain state bar associations if: The bar is not a political subdivision of a state, The bar has private, as well as public, purposes, such as promoting the professional interests of members, and Your contribution is unrestricted and can be used for private purposes. Can i still file 2012 taxes online Chambers of commerce and other business leagues or organizations (but see chapter 28). Can i still file 2012 taxes online Civic leagues and associations. Can i still file 2012 taxes online Communist organizations. Can i still file 2012 taxes online Country clubs and other social clubs. Can i still file 2012 taxes online Most foreign organizations (other than certain Canadian, Israeli, or Mexican charitable organizations). Can i still file 2012 taxes online For details, see Publication 526. Can i still file 2012 taxes online Homeowners' associations. Can i still file 2012 taxes online Labor unions (but see chapter 28). Can i still file 2012 taxes online Political organizations and candidates. Can i still file 2012 taxes online Contributions From Which You Benefit If you receive or expect to receive a financial or economic benefit as a result of making a contribution to a qualified organization, you cannot deduct the part of the contribution that represents the value of the benefit you receive. Can i still file 2012 taxes online See Contributions From Which You Benefit under Contributions You Can Deduct, earlier. Can i still file 2012 taxes online These contributions include the following. Can i still file 2012 taxes online Contributions for lobbying. Can i still file 2012 taxes online This includes amounts that you earmark for use in, or in connection with, influencing specific legislation. Can i still file 2012 taxes online Contributions to a retirement home for room, board, maintenance, or admittance. Can i still file 2012 taxes online Also, if the amount of your contribution depends on the type or size of apartment you will occupy, it is not a charitable contribution. Can i still file 2012 taxes online Costs of raffles, bingo, lottery, etc. Can i still file 2012 taxes online You cannot deduct as a charitable contribution amounts you pay to buy raffle or lottery tickets or to play bingo or other games of chance. Can i still file 2012 taxes online For information on how to report gambling winnings and losses, see Gambling winnings in chapter 12 and Gambling Losses Up to the Amount of Gambling Winnings in chapter 28. Can i still file 2012 taxes online Dues to fraternal orders and similar groups. Can i still file 2012 taxes online However, see Membership fees or dues , earlier, under Contributions You Can Deduct. Can i still file 2012 taxes online Tuition, or amounts you pay instead of tuition. Can i still file 2012 taxes online You cannot deduct as a charitable contribution amounts you pay as tuition even if you pay them for children to attend parochial schools or qualifying nonprofit daycare centers. Can i still file 2012 taxes online You also cannot deduct any fixed amount you must pay in addition to, or instead of, tuition to enroll in a private school, even if it is designated as a “donation. Can i still file 2012 taxes online ” Value of Time or Services You cannot deduct the value of your time or services, including: Blood donations to the American Red Cross or to blood banks, and The value of income lost while you work as an unpaid volunteer for a qualified organization. Can i still file 2012 taxes online Personal Expenses You cannot deduct personal, living, or family expenses, such as the following items. Can i still file 2012 taxes online The cost of meals you eat while you perform services for a qualified organization unless it is necessary for you to be away from home overnight while performing the services. Can i still file 2012 taxes online Adoption expenses, including fees paid to an adoption agency and the costs of keeping a child in your home before adoption is final (but see Adoption Credit in chapter 37, and the instructions for Form 8839, Qualified Adoption Expenses). Can i still file 2012 taxes online You also may be able to claim an exemption for the child. Can i still file 2012 taxes online See Adopted child in chapter 3. Can i still file 2012 taxes online Appraisal Fees You cannot deduct as a charitable contribution any fees you pay to find the fair market value of donated property (but see chapter 28). Can i still file 2012 taxes online Contributions of Property If you contribute property to a qualified organization, the amount of your charitable contribution is generally the fair market value of the property at the time of the contribution. Can i still file 2012 taxes online However, if the property has increased in value, you may have to make some adjustments to the amount of your deduction. Can i still file 2012 taxes online See Giving Property That Has Increased in Value , later. Can i still file 2012 taxes online For information about the records you must keep and the information you must furnish with your return if you donate property, see Records To Keep and How To Report , later. Can i still file 2012 taxes online Clothing and household items. Can i still file 2012 taxes online   You cannot take a deduction for clothing or household items you donate unless the clothing or household items are in good used condition or better. Can i still file 2012 taxes online Exception. Can i still file 2012 taxes online   You can take a deduction for a contribution of an item of clothing or household item that is not in good used condition or better if you deduct more than $500 for it and include a qualified appraisal of it with your return. Can i still file 2012 taxes online Household items. Can i still file 2012 taxes online   Household items include: Furniture and furnishings, Electronics, Appliances, Linens, and Other similar items. Can i still file 2012 taxes online   Household items do not include: Food, Paintings, antiques, and other objects of art, Jewelry and gems, and Collections. Can i still file 2012 taxes online Cars, boats, and airplanes. Can i still file 2012 taxes online    The following rules apply to any donation of a qualified vehicle. Can i still file 2012 taxes online A qualified vehicle is: A car or any motor vehicle manufactured mainly for use on public streets, roads, and highways, A boat, or An airplane. Can i still file 2012 taxes online Deduction more than $500. Can i still file 2012 taxes online   If you donate a qualified vehicle with a claimed fair market value of more than $500, you can deduct the smaller of: The gross proceeds from the sale of the vehicle by the organization, or The vehicle's fair market value on the date of the contribution. Can i still file 2012 taxes online If the vehicle's fair market value was more than your cost or other basis, you may have to reduce the fair market value to figure the deductible amount, as described under Giving Property That Has Increased in Value , later. Can i still file 2012 taxes online Form 1098-C. Can i still file 2012 taxes online   You must attach to your return Copy B of the Form 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes, (or other statement containing the same information as Form 1098-C) you received from the organization. Can i still file 2012 taxes online The Form 1098-C (or other statement) will show the gross proceeds from the sale of the vehicle. Can i still file 2012 taxes online   If you e-file your return, you must: Attach Copy B of Form 1098-C to Form 8453 and mail the forms to the IRS, or Include Copy B of Form 1098-C as a pdf attachment if your software program allows it. Can i still file 2012 taxes online   If you do not attach Form 1098-C (or other statement), you cannot deduct your contribution. Can i still file 2012 taxes online    You must get Form 1098-C (or other statement) within 30 days of the sale of the vehicle. Can i still file 2012 taxes online But if exception 1 or 2 (described later) applies, you must get Form 1098-C (or other statement) within 30 days of your donation. Can i still file 2012 taxes online Filing deadline approaching and still no Form 1098-C. Can i still file 2012 taxes online   If the filing deadline is approaching and you still do not have a Form 1098-C, you have two choices. Can i still file 2012 taxes online Request an automatic 6-month extension of time to file your return. Can i still file 2012 taxes online You can get this extension by filing Form 4868, Application for Automatic Extension of Time to File U. Can i still file 2012 taxes online S. Can i still file 2012 taxes online Individual Income Tax Return. Can i still file 2012 taxes online  For more information, see Automatic Extension in chapter 1. Can i still file 2012 taxes online File the return on time without claiming the deduction for the qualified vehicle. Can i still file 2012 taxes online After receiving the Form 1098-C, file an amended return, Form 1040X, claiming the deduction. Can i still file 2012 taxes online Attach Copy B of Form 1098-C (or other statement) to the amended return. Can i still file 2012 taxes online For more information about amended returns, see Amended Returns and Claims for Refund in chapter 1. Can i still file 2012 taxes online Exceptions. Can i still file 2012 taxes online   There are two exceptions to the rules just described for deductions of more than $500. Can i still file 2012 taxes online Exception 1—vehicle used or improved by organization. Can i still file 2012 taxes online   If the qualified organization makes a significant intervening use of or material improvement to the vehicle before transferring it, you generally can deduct the vehicle's fair market value at the time of the contribution. Can i still file 2012 taxes online But if the vehicle's fair market value was more than your cost or other basis, you may have to reduce the fair market value to get the deductible amount, as described under Giving Property That Has Increased in Value , later. Can i still file 2012 taxes online The Form 1098-C (or other statement) will show whether this exception applies. Can i still file 2012 taxes online Exception 2—vehicle given or sold to needy individual. Can i still file 2012 taxes online   If the qualified organization will give the vehicle, or sell it for a price well below fair market value, to a needy individual to further the organization's charitable purpose, you generally can deduct the vehicle's fair market value at the time of the contribution. Can i still file 2012 taxes online But if the vehicle's fair market value was more than your cost or other basis, you may have to reduce the fair market value to get the deductible amount, as described under Giving Property That Has Increased in Value , later. Can i still file 2012 taxes online The Form 1098-C (or other statement) will show whether this exception applies. Can i still file 2012 taxes online   This exception does not apply if the organization sells the vehicle at auction. Can i still file 2012 taxes online In that case, you cannot deduct the vehicle's fair market value. Can i still file 2012 taxes online Example. Can i still file 2012 taxes online Anita donates a used car to a qualified organization. Can i still file 2012 taxes online She bought it 3 years ago for $9,000. Can i still file 2012 taxes online A used car guide shows the fair market value for this type of car is $6,000. Can i still file 2012 taxes online However, Anita gets a Form 1098-C from the organization showing the car was sold for $2,900. Can i still file 2012 taxes online Neither exception 1 nor exception 2 applies. Can i still file 2012 taxes online If Anita itemizes her deductions, she can deduct $2,900 for her donation. Can i still file 2012 taxes online She must attach Form 1098-C and Form 8283 to her return. Can i still file 2012 taxes online Deduction $500 or less. Can i still file 2012 taxes online   If the qualified organization sells the vehicle for $500 or less and exceptions 1 and 2 do not apply, you can deduct the smaller of: $500, or The vehicle's fair market value on the date of the contribution. Can i still file 2012 taxes online But if the vehicle's fair market value was more than your cost or other basis, you may have to reduce the fair market value to get the deductible amount, as described under Giving Property That Has Increased in Value , later. Can i still file 2012 taxes online   If the vehicle's fair market value is at least $250 but not more than $500, you must have a written statement from the qualified organization acknowledging your donation. Can i still file 2012 taxes online The statement must contain the information and meet the tests for an acknowledgment described under Deductions of At Least $250 But Not More Than $500 under Records To Keep, later. Can i still file 2012 taxes online Partial interest in property. Can i still file 2012 taxes online   Generally, you cannot deduct a charitable contribution of less than your entire interest in property. Can i still file 2012 taxes online Right to use property. Can i still file 2012 taxes online   A contribution of the right to use property is a contribution of less than your entire interest in that property and is not deductible. Can i still file 2012 taxes online For exceptions and more information, see Partial Interest in Property Not in Trust in Publication 561. Can i still file 2012 taxes online Future interests in tangible personal property. Can i still file 2012 taxes online   You cannot deduct the value of a charitable contribution of a future interest in tangible personal property until all intervening interests in and rights to the actual possession or enjoyment of the property have either expired or been turned over to someone other than yourself, a related person, or a related organization. Can i still file 2012 taxes online Tangible personal property. Can i still file 2012 taxes online   This is any property, other than land or buildings, that can be seen or touched. Can i still file 2012 taxes online It includes furniture, books, jewelry, paintings, and cars. Can i still file 2012 taxes online Future interest. Can i still file 2012 taxes online   This is any interest that is to begin at some future time, regardless of whether it is designated as a future interest under state law. Can i still file 2012 taxes online Determining Fair Market Value This section discusses general guidelines for determining the fair market value of various types of donated property. Can i still file 2012 taxes online Publication 561 contains a more complete discussion. Can i still file 2012 taxes online Fair market value is the price at which property would change hands between a willing buyer and a willing seller, neither having to buy or sell, and both having reasonable knowledge of all the relevant facts. Can i still file 2012 taxes online Used clothing and household items. Can i still file 2012 taxes online   The fair market value of used clothing and household goods is usually far less than what you paid for them when they were new. Can i still file 2012 taxes online   For used clothing, you should claim as the value the price that buyers of used items actually pay in used clothing stores, such as consignment or thrift shops. Can i still file 2012 taxes online See Household Goods in Publication 561 for information on the valuation of household goods, such as furniture, appliances, and linens. Can i still file 2012 taxes online Example. Can i still file 2012 taxes online Dawn Greene donated a coat to a thrift store operated by her church. Can i still file 2012 taxes online She paid $300 for the coat 3 years ago. Can i still file 2012 taxes online Similar coats in the thrift store sell for $50. Can i still file 2012 taxes online The fair market value of the coat is $50. Can i still file 2012 taxes online Dawn's donation is limited to $50. Can i still file 2012 taxes online Cars, boats, and airplanes. Can i still file 2012 taxes online   If you contribute a car, boat, or airplane to a charitable organization, you must determine its fair market value. Can i still file 2012 taxes online Certain commercial firms and trade organizations publish used car pricing guides, commonly called “blue books,” containing complete dealer sale prices or dealer average prices for recent model years. Can i still file 2012 taxes online The guides may be published monthly or seasonally and for different regions of the country. Can i still file 2012 taxes online These guides also provide estimates for adjusting for unusual equipment, unusual mileage, and physical condition. Can i still file 2012 taxes online The prices are not “official” and these publications are not considered an appraisal of any specific donated property. Can i still file 2012 taxes online But they do provide clues for making an appraisal and suggest relative prices for comparison with current sales and offerings in your area. Can i still file 2012 taxes online   You can also find used car pricing information on the Internet. Can i still file 2012 taxes online Example. Can i still file 2012 taxes online You donate a used car in poor condition to a local high school for use by students studying car repair. Can i still file 2012 taxes online A used car guide shows the dealer retail value for this type of car in poor condition is $1,600. Can i still file 2012 taxes online However, the guide shows the price for a private party sale of the car is only $750. Can i still file 2012 taxes online The fair market value of the car is considered to be $750. Can i still file 2012 taxes online Large quantities. Can i still file 2012 taxes online   If you contribute a large number of the same item, fair market value is the price at which comparable numbers of the item are being sold. Can i still file 2012 taxes online Giving Property That Has Decreased in Value If you contribute property with a fair market value that is less than your basis in it, your deduction is limited to its fair market value. Can i still file 2012 taxes online You cannot claim a deduction for the difference between the property's basis and its fair market value. Can i still file 2012 taxes online Giving Property That Has Increased in Value If you contribute property with a fair market value that is more than your basis in it, you may have to reduce the fair market value by the amount of appreciation (increase in value) when you figure your deduction. Can i still file 2012 taxes online Your basis in property is generally what you paid for it. Can i still file 2012 taxes online See chapter 13 if you need more information about basis. Can i still file 2012 taxes online Different rules apply to figuring your deduction, depending on whether the property is: Ordinary income property, or Capital gain property. Can i still file 2012 taxes online Ordinary income property. Can i still file 2012 taxes online   Property is ordinary income property if you would have recognized ordinary income or short-term capital gain had you sold it at fair market value on the date it was contributed. Can i still file 2012 taxes online Examples of ordinary income property are inventory, works of art created by the donor, manuscripts prepared by the donor, and capital assets (defined in chapter 14) held 1 year or less. Can i still file 2012 taxes online Amount of deduction. Can i still file 2012 taxes online   The amount you can deduct for a contribution of ordinary income property is its fair market value minus the amount that would be ordinary income or short-term capital gain if you sold the property for its fair market value. Can i still file 2012 taxes online Generally, this rule limits the deduction to your basis in the property. Can i still file 2012 taxes online Example. Can i still file 2012 taxes online You donate stock you held for 5 months to your church. Can i still file 2012 taxes online The fair market value of the stock on the day you donate it is $1,000, but you paid only $800 (your basis). Can i still file 2012 taxes online Because the $200 of appreciation would be short-term capital gain if you sold the stock, your deduction is limited to $800 (fair market value minus the appreciation). Can i still file 2012 taxes online Capital gain property. Can i still file 2012 taxes online   Property is capital gain property if you would have recognized long-term capital gain had you sold it at fair market value on the date of the contribution. Can i still file 2012 taxes online It includes capital assets held more than 1 year, as well as certain real property and depreciable property used in your trade or business and, generally, held more than 1 year. Can i still file 2012 taxes online Amount of deduction — general rule. Can i still file 2012 taxes online   When figuring your deduction for a contribution of capital gain property, you generally can use the fair market value of the property. Can i still file 2012 taxes online Exceptions. Can i still file 2012 taxes online   In certain situations, you must reduce the fair market value by any amount that would have been long-term capital gain if you had sold the property for its fair market value. Can i still file 2012 taxes online Generally, this means reducing the fair market value to the property's cost or other basis. Can i still file 2012 taxes online Bargain sales. Can i still file 2012 taxes online   A bargain sale of property is a sale or exchange for less than the property's fair market value. Can i still file 2012 taxes online A bargain sale to a qualified organization is partly a charitable contribution and partly a sale or exchange. Can i still file 2012 taxes online A bargain sale may result in a taxable gain. Can i still file 2012 taxes online More information. Can i still file 2012 taxes online   For more information on donating appreciated property, see Giving Property That Has Increased in Value in Publication 526. Can i still file 2012 taxes online When To Deduct You can deduct your contributions only in the year you actually make them in cash or other property (or in a later carryover year, as explained later under Carryovers ). Can i still file 2012 taxes online This applies whether you use the cash or an accrual method of accounting. Can i still file 2012 taxes online Time of making contribution. Can i still file 2012 taxes online   Usually, you make a contribution at the time of its unconditional delivery. Can i still file 2012 taxes online Checks. Can i still file 2012 taxes online   A check you mail to a charity is considered delivered on the date you mail it. Can i still file 2012 taxes online Text message. Can i still file 2012 taxes online   Contributions made by text message are deductible in the year you send the text message if the contribution is charged to your telephone or wireless account. Can i still file 2012 taxes online Credit card. Can i still file 2012 taxes online    Contributions charged on your credit card are deductible in the year you make the charge. Can i still file 2012 taxes online Pay-by-phone account. Can i still file 2012 taxes online    Contributions made through a pay-by-phone account are considered delivered on the date the financial institution pays the amount. Can i still file 2012 taxes online Stock certificate. Can i still file 2012 taxes online   A properly endorsed stock certificate is considered delivered on the date of mailing or other delivery to the charity or to the charity's agent. Can i still file 2012 taxes online However, if you give a stock certificate to your agent or to the issuing corporation for transfer to the name of the charity, your contribution is not delivered until the date the stock is transferred on the books of the corporation. Can i still file 2012 taxes online Promissory note. Can i still file 2012 taxes online   If you issue and deliver a promissory note to a charity as a contribution, it is not a contribution until you make the note payments. Can i still file 2012 taxes online Option. Can i still file 2012 taxes online    If you grant a charity an option to buy real property at a bargain price, it is not a contribution until the organization exercises the option. Can i still file 2012 taxes online Borrowed funds. Can i still file 2012 taxes online   If you contribute borrowed funds, you can deduct the contribution in the year you deliver the funds to the charity, regardless of when you repay the loan. Can i still file 2012 taxes online Limits on Deductions The amount you can deduct for charitable contributions cannot be more than 50% of your adjusted gross income (AGI). Can i still file 2012 taxes online Your deduction may be further limited to 30% or 20% of your AGI, depending on the type of property you give and the type of organization you give it to. Can i still file 2012 taxes online If your total contributions for the year are 20% or less of your AGI, these limits do not apply to you. Can i still file 2012 taxes online The limits are discussed in detail under Limits on Deductions in Publication 526. Can i still file 2012 taxes online A higher limit applies to certain qualified conservation contributions. Can i still file 2012 taxes online See Publication 526 for details. Can i still file 2012 taxes online Carryovers You can carry over any contributions you cannot deduct in the current year because they exceed your adjusted-gross-income limits. Can i still file 2012 taxes online You can deduct the excess in each of the next 5 years until it is used up, but not beyond that time. Can i still file 2012 taxes online For more information, see Carryovers in Publication 526. Can i still file 2012 taxes online Records To Keep You must keep records to prove the amount of the contributions you make during the year. Can i still file 2012 taxes online The kind of records you must keep depends on the amount of your contributions and whether they are: Cash contributions, Noncash contributions, or Out-of-pocket expenses when donating your services. Can i still file 2012 taxes online Note. Can i still file 2012 taxes online An organization generally must give you a written statement if it receives a payment from you that is more than $75 and is partly a contribution and partly for goods or services. Can i still file 2012 taxes online (See Contributions From Which You Benefit under Contributions You Can Deduct, earlier. Can i still file 2012 taxes online ) Keep the statement for your records. Can i still file 2012 taxes online It may satisfy all or part of the recordkeeping requirements explained in the following discussions. Can i still file 2012 taxes online Cash Contributions Cash contributions include those paid by cash, check, electronic funds transfer, debit card, credit card, or payroll deduction. Can i still file 2012 taxes online You cannot deduct a cash contribution, regardless of the amount, unless you keep one of the following. Can i still file 2012 taxes online A bank record that shows the name of the qualified organization, the date of the contribution, and the amount of the contribution. Can i still file 2012 taxes online Bank records may include: A canceled check, A bank or credit union statement, or A credit card statement. Can i still file 2012 taxes online A receipt (or a letter or other written communication) from the qualified organization showing the name of the organization, the date of the contribution, and the amount of the contribution. Can i still file 2012 taxes online The payroll deduction records described next. Can i still file 2012 taxes online Payroll deductions. Can i still file 2012 taxes online   If you make a contribution by payroll deduction, you must keep: A pay stub, Form W-2, or other document furnished by your employer that shows the date and amount of the contribution, and A pledge card or other document prepared by or for the qualified organization that shows the name of the organization. Can i still file 2012 taxes online If your employer withheld $250 or more from a single paycheck, see Contributions of $250 or More , next. Can i still file 2012 taxes online Contributions of $250 or More You can claim a deduction for a contribution of $250 or more only if you have an acknowledgment of your contribution from the qualified organization or certain payroll deduction records. Can i still file 2012 taxes online If you made more than one contribution of $250 or more, you must have either a separate acknowledgment for each or one acknowledgment that lists each contribution and the date of each contribution and shows your total contributions. Can i still file 2012 taxes online Amount of contribution. Can i still file 2012 taxes online   In figuring whether your contribution is $250 or more, do not combine separate contributions. Can i still file 2012 taxes online For example, if you gave your church $25 each week, your weekly payments do not have to be combined. Can i still file 2012 taxes online Each payment is a separate contribution. Can i still file 2012 taxes online   If contributions are made by payroll deduction, the deduction from each paycheck is treated as a separate contribution. Can i still file 2012 taxes online   If you made a payment that is partly for goods and services, as described earlier under Contributions From Which You Benefit , your contribution is the amount of the payment that is more than the value of the goods and services. Can i still file 2012 taxes online Acknowledgment. Can i still file 2012 taxes online   The acknowledgment must meet these tests. Can i still file 2012 taxes online It must be written. Can i still file 2012 taxes online It must include: The amount of cash you contributed, Whether the qualified organization gave you any goods or services as a result of your contribution (other than certain token items and membership benefits), A description and good faith estimate of the value of any goods or services described in (b) (other than intangible religious benefits), and A statement that the only benefit you received was an intangible religious benefit, if that was the case. Can i still file 2012 taxes online The acknowledgment does not need to describe or estimate the value of an intangible religious benefit. Can i still file 2012 taxes online An intangible religious benefit is a benefit that generally is not sold in commercial transactions outside a donative (gift) context. Can i still file 2012 taxes online An example is admission to a religious ceremony. Can i still file 2012 taxes online You must get it on or before the earlier of: The date you file your return for the year you make the contribution, or The due date, including extensions, for filing the return. Can i still file 2012 taxes online   If the acknowledgment does not show the date of the contribution, you must also have a bank record or receipt, as described earlier, that does show the date of the contribution. Can i still file 2012 taxes online If the acknowledgment shows the date of the contribution and meets the other tests just described, you do not need any other records. Can i still file 2012 taxes online Payroll deductions. Can i still file 2012 taxes online   If you make a contribution by payroll deduction and your employer withholds $250 or more from a single paycheck, you must keep: A pay stub, Form W-2, or other document furnished by your employer that shows the amount withheld as a contribution, and A pledge card or other document prepared by or for the qualified organization that shows the name of the organization and states the organization does not provide goods or services in return for any contribution made to it by payroll deduction. Can i still file 2012 taxes online A single pledge card may be kept for all contributions made by payroll deduction regardless of amount as long as it contains all the required information. Can i still file 2012 taxes online   If the pay stub, Form W-2, pledge card, or other document does not show the date of the contribution, you must have another document that does show the date of the contribution. Can i still file 2012 taxes online If the pay stub, Form W-2, pledge card, or other document shows the date of the contribution, you do not need any other records except those just described in (1) and (2). Can i still file 2012 taxes online Noncash Contributions For a contribution not made in cash, the records you must keep depend on whether your deduction for the contribution is: Less than $250, At least $250 but not more than $500, Over $500 but not more than $5,000, or Over $5,000. Can i still file 2012 taxes online Amount of deduction. Can i still file 2012 taxes online   In figuring whether your deduction is $500 or more, combine your claimed deductions for all similar items of property donated to any charitable organization during the year. Can i still file 2012 taxes online   If you received goods or services in return, as described earlier in Contributions From Which You Benefit , reduce your contribution by the value of those goods or services. Can i still file 2012 taxes online If you figure your deduction by reducing the fair market value of the donated property by its appreciation, as described earlier in Giving Property That Has Increased in Value , your contribution is the reduced amount. Can i still file 2012 taxes online Deductions of Less Than $250 If you make any noncash contribution, you must get and keep a receipt from the charitable organization showing: The name of the charitable organization, The date and location of the charitable contribution, and A reasonably detailed description of the property. Can i still file 2012 taxes online A letter or other written communication from the charitable organization acknowledging receipt of the contribution and containing the information in (1), (2), and (3) will serve as a receipt. Can i still file 2012 taxes online You are not required to have a receipt where it is impractical to get one (for example, if you leave property at a charity's unattended drop site). Can i still file 2012 taxes online Additional records. Can i still file 2012 taxes online   You must also keep reliable written records for each item of contributed property. Can i still file 2012 taxes online Your written records must include the following information. Can i still file 2012 taxes online The name and address of the organization to which you contributed. Can i still file 2012 taxes online The date and location of the contribution. Can i still file 2012 taxes online A description of the property in detail reasonable under the circumstances. Can i still file 2012 taxes online For a security, keep the name of the issuer, the type of security, and whether it is regularly traded on a stock exchange or in an over-the-counter market. Can i still file 2012 taxes online The fair market value of the property at the time of the contribution and how you figured the fair market value. Can i still file 2012 taxes online If it was determined by appraisal, keep a signed copy of the appraisal. Can i still file 2012 taxes online The cost or other basis of the property, if you must reduce its fair market value by appreciation. Can i still file 2012 taxes online Your records should also include the amount of the reduction and how you figured it. Can i still file 2012 taxes online The amount you claim as a deduction for the tax year as a result of the contribution, if you contribute less than your entire interest in the property during the tax year. Can i still file 2012 taxes online Your records must include the amount you claimed as a deduction in any earlier years for contributions of other interests in this property. Can i still file 2012 taxes online They must also include the name and address of each organization to which you contributed the other interests, the place where any such tangible property is located or kept, and the name of any person in possession of the property, other than the organization to which you contributed it. Can i still file 2012 taxes online The terms of any conditions attached to the contribution of property. Can i still file 2012 taxes online Deductions of At Least $250 But Not More Than $500 If you claim a deduction of at least $250 but not more than $500 for a noncash charitable contribution, you must get and keep an acknowledgment of your contribution from the qualified organization. Can i still file 2012 taxes online If you made more than one contribution of $250 or more, you must have either a separate acknowledgment for each or one acknowledgment that shows your total contributions. Can i still file 2012 taxes online The acknowledgment must contain the information in items (1) through (3) under Deductions of Less Than $250 , earlier, and your written records must include the information listed in that discussion under Additional records . Can i still file 2012 taxes online The acknowledgment must also meet these tests. Can i still file 2012 taxes online It must be written. Can i still file 2012 taxes online It must include: A description (but not necessarily the value) of any property you contributed, Whether the qualified organization gave you any goods or services as a result of your contribution (other than certain token items and membership benefits), and A description and good faith estimate of the value of any goods or services described in (b). Can i still file 2012 taxes online If the only benefit you received was an intangible religious benefit (such as admission to a religious ceremony) that generally is not sold in a commercial transaction outside the donative context, the acknowledgment must say so and does not need to describe or estimate the value of the benefit. Can i still file 2012 taxes online You must get it on or before the earlier of: The date you file your return for the year you make the contribution, or The due date, including extensions, for filing the return. Can i still file 2012 taxes online Deductions Over $500 You are required to give additional information if you claim a deduction over $500 for noncash charitable contributions. Can i still file 2012 taxes online See Records To Keep in Publication 526 for more information. Can i still file 2012 taxes online Out-of-Pocket Expenses If you give services to a qualified organization and have unreimbursed out-of-pocket expenses related to those services, the following two rules apply. Can i still file 2012 taxes online You must have adequate records to prove the amount of the expenses. Can i still file 2012 taxes online If any of your unreimbursed out-of-pocket expenses, considered separately, are $250 or more (for example, you pay $250 or more for an airline ticket to attend a convention of a qualified organization as a chosen representative), you must get an acknowledgment from the qualified organization that contains: A description of the services you provided, A statement of whether or not the organization provided you any goods or services to reimburse you for the expenses you incurred, A description and a good faith estimate of the value of any goods or services (other than intangible religious benefits) provided to reimburse you, and A statement that the only benefit you received was an intangible religious benefit, if that was the case. Can i still file 2012 taxes online The acknowledgment does not need to describe or estimate the value of an intangible religious benefit (defined earlier under Acknowledgment ). Can i still file 2012 taxes online You must get the acknowledgment on or before the earlier of: The date you file your return for the year you make the contribution, or The due date, including extensions, for filing the return. Can i still file 2012 taxes online Car expenses. Can i still file 2012 taxes online   If you claim expenses directly related to use of your car in giving services to a qualified organization, you must keep reliable written records of your expenses. Can i still file 2012 taxes online Whether your records are considered reliable depends on all the facts and circumstances. Can i still file 2012 taxes online Generally, they may be considered reliable if you made them regularly and at or near the time you had the expenses. Can i still file 2012 taxes online   For example, your records might show the name of the organization you were serving and the dates you used your car for a charitable purpose. Can i still file 2012 taxes online If you use the standard mileage rate of 14 cents a mile, your records must show the miles you drove your car for the charitable purpose. Can i still file 2012 taxes online If you deduct your actual expenses, your records must show the costs of operating the car that are directly related to a charitable purpose. Can i still file 2012 taxes online   See Car expenses under Out-of-Pocket Expenses in Giving Services, earlier, for the expenses you can deduct. Can i still file 2012 taxes online How To Report Report your charitable contributions on Schedule A (Form 1040). Can i still file 2012 taxes online If your total deduction for all noncash contributions for the year is over $500, you must also file Form 8283. Can i still file 2012 taxes online See How To Report in Publication 526 for more information. Can i still file 2012 taxes online Prev  Up  Next   Home   More Online Publications