Filing Your Taxes Online is Fast, Easy and Secure.
Start now and receive your tax refund in as little as 7 days.

1. Get Answers

Your online questions are customized to your unique tax situation.

2. Maximize your Refund

Find tax credits for everything from school tuition to buying a hybri

3. E-File for FREE

E-file free with direct deposit to get your refund in as few as 7 days.

Filing your taxes with paper mail can be difficult and it could take weeks for your refund to arrive. IRS e-file is easy, fast and secure. There is no paperwork going to the IRS so tax refunds can be processed in as little as 7 days with direct deposit. As you prepare your taxes online, you can see your tax refund in real time.

FREE audit support and representation from an enrolled agent – NEW and only from H&R Block

College Student Filing Taxes

1040ez InstructionsWhere Can You File Your State Taxes For FreeVita Tax Locations 2012Amend Federal TaxesIt1040ezFree Turbo Tax FilingDo College Students Have To File TaxesCan I Still E File My 2012 TaxesFree Fillable FormsWhere Can I Do My Taxes For Free OnlineTax Software ComparisonFree Irs ExtensionHr Tax CutWhen Amend Tax ReturnHow To Ammend TaxesFill 1040x Form Online1040ez Tax Form 2012Irs Tax Forms For 2012Irs Form1040ezTax Act 2012 Returning UserFree State Tax Return EfileHow To File Self Employed Taxes Step By StepForm 1040x For 2012Irs.gov Form 1040xFree State Tax Filing Turbotax CodeFree Online Tax ExtensionH R Block 2011Military TaxesTax Planning Us 1040ezIrs 2011 Amended Tax ReturnTax Cut Software2012 1040ezIrs 1040x Form2010 Tax Form 1040H&r Block Free State File1040 Ez Free File2005 Tax Return Software FreeHow To File Late Tax ReturnsWhere Can You File State Taxes For FreeTaxes State

College Student Filing Taxes

College student filing taxes 1. College student filing taxes   Canceled Debts Table of Contents General RulesForm 1099-C Discounts and loan modifications Sales or other dispositions (such as foreclosures and repossessions) Abandonments Stockholder debt This chapter discusses the tax treatment of canceled debts. College student filing taxes General Rules Generally, if a debt for which you are personally liable is forgiven or discharged for less than the full amount owed, the debt is considered canceled in whatever amount it remained unpaid. College student filing taxes There are exceptions to this rule, discussed under Exceptions , later. College student filing taxes Generally, you must include the canceled debt in your income. College student filing taxes However, you may be able to exclude the canceled debt. College student filing taxes See Exclusions , later. College student filing taxes Example. College student filing taxes John owed $1,000 to Mary. College student filing taxes Mary agreed to accept and John paid $400 in satisfaction of the entire debt. College student filing taxes John has canceled debt of $600. College student filing taxes Example. College student filing taxes Margaret owed $1,000 to Henry. College student filing taxes Henry and Margaret agreed that Margaret would provide Henry with services (instead of money) in full satisfaction of the debt. College student filing taxes Margaret does not have canceled debt. College student filing taxes Instead, she has income from services. College student filing taxes A debt includes any indebtedness: For which you are liable, or Subject to which you hold property. College student filing taxes Debt for which you are personally liable is recourse debt. College student filing taxes All other debt is nonrecourse debt. College student filing taxes If you are not personally liable for the debt, you do not have ordinary income from the cancellation of debt unless you retain the collateral and either: The lender offers a discount for the early payment of the debt, or The lender agrees to a loan modification that results in the reduction of the principal balance of the debt. College student filing taxes See Discounts and loan modifications , later. College student filing taxes However, upon the disposition of the property securing a nonrecourse debt, the amount realized includes the entire unpaid amount of the debt, not just the FMV of the property. College student filing taxes As a result, you may realize a gain or loss if the outstanding debt immediately before the disposition is more or less than your adjusted basis in the property. College student filing taxes For more details on figuring your gain or loss, see chapter 2 of this publication or see Publication 544. College student filing taxes There are several exceptions and exclusions that may result in part or all of a canceled debt being nontaxable. College student filing taxes See Exceptions and Exclusions, later. College student filing taxes You must report any taxable canceled debt as ordinary income on: Form 1040 or Form 1040NR, line 21, if the debt is a nonbusiness debt; Schedule C (Form 1040), line 6 (or Schedule C-EZ (Form 1040), line 1), if the debt is related to a nonfarm sole proprietorship; Schedule E (Form 1040), line 3, if the debt is related to nonfarm rental of real property; Form 4835, line 6, if the debt is related to a farm rental activity for which you use Form 4835 to report farm rental income based on crops or livestock produced by a tenant; or Schedule F (Form 1040), line 8, if the debt is farm debt and you are a farmer. College student filing taxes Form 1099-C If you receive a Form 1099-C, that means an applicable entity has reported an identifiable event to the IRS regarding a debt you owe. College student filing taxes The identifiable event may be an actual cancellation of the debt or it may be an event the applicable entity is required, solely for purposes of reporting to the IRS, to treat as a cancellation of debt. College student filing taxes For information on the reasons an applicable entity files Form 1099-C, see Identifiable event codes, later. College student filing taxes Unless you meet one of the exceptions or exclusions discussed later, this canceled debt is ordinary income and must be reported on the appropriate form discussed above. College student filing taxes An applicable entity includes: A federal government agency, A financial institution, A credit union, and Any organization a significant trade or business of which is lending money. College student filing taxes Identifiable event codes. College student filing taxes    Box 6 of Form 1099-C should indicate the reason the creditor filed this form. College student filing taxes The codes shown in box 6 are explained below. College student filing taxes Also see the chart after the explanation for a quick reference guide for the codes used in Box 6. College student filing taxes Note. College student filing taxes Codes A through G and I identify specific occurrences resulting from an actual discharge of indebtedness. College student filing taxes However, Code H, Expiration of nonpayment testing period, does not necessarily identify an actual discharge of indebtedness. College student filing taxes Code A — Bankruptcy. College student filing taxes Code A is used to identify cancellation of debt as a result of a title 11 bankruptcy case. College student filing taxes See Bankruptcy , later. College student filing taxes Code B — Other judicial debt relief. College student filing taxes Code B is used to identify cancellation of debt as a result of a receivership, foreclosure, or similar federal or state court proceeding other than bankruptcy. College student filing taxes Code C — Statute of limitations or expiration of deficiency period. College student filing taxes Code C is used to identify cancellation of debt either when the statute of limitations for collecting the debt expires or when the statutory period for filing a claim or beginning a deficiency judgment proceeding expires. College student filing taxes In the case of the expiration of a statute of limitations, an identifiable event occurs only if and when your affirmative defense of the statute of limitations is upheld in a final judgment or decision in a judicial proceeding, and the period for appealing the judgment or decision has expired. College student filing taxes Code D — Foreclosure election. College student filing taxes Code D is used to identify cancellation of debt when the creditor elects foreclosure remedies that statutorily end or bar the creditor's right to pursue collection of the debt. College student filing taxes This event applies to a mortgage lender or holder who is barred from pursuing debt collection after a power of sale in the mortgage or deed of trust is exercised. College student filing taxes Code E — Debt relief from probate or similar proceeding. College student filing taxes Code E is used to identify cancellation of debt as a result of a probate court or similar legal proceeding. College student filing taxes Code F — By agreement. College student filing taxes Code F is used to identify cancellation of debt as a result of an agreement between the creditor and the debtor to cancel the debt at less than full consideration. College student filing taxes Code G — Decision or policy to discontinue collection. College student filing taxes Code G is used to identify cancellation of debt as a result of a decision or a defined policy of the creditor to discontinue collection activity and cancel the debt. College student filing taxes For purposes of this identifiable event, a defined policy includes both a written policy and the creditor's established business practice. College student filing taxes Code H — Expiration of nonpayment testing period. College student filing taxes Code H is used to indicate that the creditor has not received a payment on the debt during a testing period ending on December 31, 2013. College student filing taxes The testing period is a 36-month period increased by the number of months the creditor was prevented from engaging in collection activity by a stay in bankruptcy or similar bar under state or local law. College student filing taxes This identifiable event applies only for a creditor that is a financial institution or credit union (and certain of their subsidiaries), the Federal Deposit Insurance Corporation (FDIC), Resolution Trust Corporation (RTC), National Credit Union Administration (NCUA), and other Federal executive agencies. College student filing taxes Expiration of the nonpayment testing period does not necessarily result from an actual discharge of indebtedness. College student filing taxes Code I — Other actual discharge before identifiable event. College student filing taxes Code I is used to identify an actual cancellation of debt that occurs before any of the identifiable events described in codes A through H. College student filing taxes Form 1099-C Reference Guide for Box 6 Identifiable Event Codes A Bankruptcy B Other judicial debt relief C Statute of limitations or expiration of deficiency period D Foreclosure election E Debt relief from probate or similar proceeding F By agreement G Decision or policy to discontinue collection H Expiration of nonpayment testing period I Other actual discharge before identifiable event Even if you did not receive a Form 1099-C, you must report canceled debt as gross income on your tax return unless one of the exceptions or exclusions described later applies. College student filing taxes Amount of canceled debt. College student filing taxes    The amount in box 2 of Form 1099-C may represent some or all of the debt that has been canceled or treated as canceled. College student filing taxes The amount in box 2 will include principal and may include interest and other nonprincipal amounts (such as fees or penalties). College student filing taxes Unless you meet one of the exceptions or exclusions discussed later, the amount of the debt that has been canceled is ordinary income and must be reported on the appropriate form as discussed earlier. College student filing taxes Interest included in canceled debt. College student filing taxes    If any interest is included in the amount of canceled debt in box 2, it will be shown in box 3. College student filing taxes Whether the interest portion of the canceled debt must be included in your income depends on whether the interest would be deductible if you paid it. College student filing taxes See Deductible Debt under Exceptions, later. College student filing taxes Persons who each receive a Form 1099-C showing the full amount of debt. College student filing taxes    If you and another person were jointly and severally liable for a canceled debt, each of you may get a Form 1099-C showing the entire amount of the canceled debt. College student filing taxes However, you may not have to report that entire amount as income. College student filing taxes The amount, if any, you must report depends on all the facts and circumstances, including: State law, The amount of debt proceeds each person received, How much of any interest deduction from the debt was claimed by each person, How much of the basis of any co-owned property bought with the debt proceeds was allocated to each co-owner, and Whether the canceled debt qualifies for any of the exceptions or exclusions described in this publication. College student filing taxes See Example 3 under Insolvency, later. College student filing taxes Discounts and loan modifications If a lender discounts (reduces) the principal balance of a loan because you pay it off early, or agrees to a loan modification (a “workout”) that includes a reduction in the principal balance of a loan, the amount of the discount or the amount of principal reduction is canceled debt. College student filing taxes However, if the debt is nonrecourse and you did not retain the collateral, you do not have cancellation of the debt income. College student filing taxes The amount of the canceled debt must be included in income unless one of the exceptions or exclusions described later applies. College student filing taxes For more details, see Exceptions and Exclusions, later. College student filing taxes Sales or other dispositions (such as foreclosures and repossessions) Recourse debt. College student filing taxes   If you owned property that was subject to a recourse debt in excess of the FMV of the property, the lender's foreclosure or repossession of the property is treated as a sale or disposition of the property by you and may result in your realization of gain or loss. College student filing taxes The gain or loss on the disposition of the property is measured by the difference between the FMV of the property at the time of the disposition and your adjusted basis (usually your cost) in the property. College student filing taxes The character of the gain or loss (such as ordinary or capital) is determined by the character of the property. College student filing taxes If the lender forgives all or part of the amount of the debt in excess of the FMV of the property, the cancellation of the excess debt may result in ordinary income. College student filing taxes The ordinary income from the cancellation of debt (the excess of the canceled debt over the FMV of the property) must be included in your gross income reported on your tax return unless one of the exceptions or exclusions described later applies. College student filing taxes For more details, see Exceptions and Exclusions, later. College student filing taxes Nonrecourse debt. College student filing taxes   If you owned property that was subject to a nonrecourse debt in excess of the FMV of the property, the lender's foreclosure on the property does not result in ordinary income from the cancellation of debt. College student filing taxes The entire amount of the nonrecourse debt is treated as an amount realized on the disposition of the property. College student filing taxes The gain or loss on the disposition of the property is measured by the difference between the total amount realized (the entire amount of the nonrecourse debt plus the amount of cash and the FMV of any property received) and your adjusted basis in the property. College student filing taxes The character of the gain or loss is determined by the character of the property. College student filing taxes More information. College student filing taxes    See Publications 523, 544, and 551, and chapter 2 of this publication for more details. College student filing taxes Abandonments Recourse debt. College student filing taxes   If you abandon property that secures a debt for which you are personally liable (recourse debt) and the debt is canceled, you will realize ordinary income equal to the canceled debt. College student filing taxes You must report this income on your tax return unless one of the exceptions or exclusions described later applies. College student filing taxes For more details, see Exceptions and Exclusions, later. College student filing taxes This income is separate from any amount realized from the abandonment of the property. College student filing taxes For more details, see chapter 3. College student filing taxes Nonrecourse debt. College student filing taxes   If you abandon property that secures a debt for which you are not personally liable (nonrecourse debt), you may realize gain or loss but will not have cancellation of indebtedness income. College student filing taxes Stockholder debt If you are a stockholder in a corporation and the corporation cancels or forgives your debt to it, the canceled debt is a constructive distribution. College student filing taxes For more information, see Publication 542, Corporations. College student filing taxes Prev  Up  Next   Home   More Online Publications
Print - Click this link to Print this page

Online EIN: Frequently Asked Questions

If you are unfamiliar with the Online EIN application, you may find this section helpful in answering your questions.

Q. When can I use my Internet EIN to make tax payments or file returns?
A
. This EIN is your permanent number and can be used immediately for most of your business needs, including:

  • Opening a bank account
  • Applying for business licenses
  • Filing a tax return by mail

However, it will take up to two weeks before your EIN becomes part of the IRS's permanent records. You must wait until this occurs before you can:

  • File an electronic return
  • Make an electronic payment
  • Pass an IRS Taxpayer Identification Number (TIN) matching program

Q. Sometimes I don't know all the information required on the application. Why do I have to complete the application online when I can send in paper or fax with missing information?
A. When paper or faxed Forms SS-4 are received by the IRS with information missing, additional time is needed to process that application, delaying the issuance of your Employer Identification Number. Applicants can get their EIN much quicker if all the required information is completed.

Q. The legal name of my business includes the symbol for a dollar sign ($). Does the IRS accept symbols as part of a business name?
A.
No. The only characters IRS systems can accept in a business name are: 1) alpha (A-Z), 2) numeric (0-9), 3) hyphen (-), and 4) ampersand (&). If the legal name of your business includes anything other than those listed above, you will need to decide how best to enter your business name into the online EIN application. Following are some suggestions:

If your legal name contains: Then:
A symbol or character, such as a “plus” symbol (+), “at” symbol (@), or a period (.) 1) Spell out the symbol or 2) drop the symbol and leave a space. Example: If the legal name of your business is Jones.Com, then input it as Jones Dot Com or Jones Com
Backward (\) or forward (/) slash Substitute a hyphen (-)
Apostrophe (') Drop the apostrophe and do not leave a space.

Q. What do I do if my entire address won't fit on your address line on the Internet application?
A
. IRS systems only allow 35 characters on the street address line. If your address does not fit in 35 characters, please make sure you provide the most essential address information (i.e., apartment numbers, suite numbers, etc). We’ll then validate the address you’ve provided with the United States Postal Service’s database and offer you an opportunity to make any changes to the address, if necessary.

Q. Are any entity types excluded from applying for an EIN over the Internet?
A
.  No. All customers whose principal business, office or agency, or legal residence (in the case of an individual) is located in the United States or in one of the U.S. Territories can apply for an EIN online. The principal officer, general partner, grantor, owner, trustor etc. must have a valid Taxpayer Identification Number (Social Security Number, Employer Identification Number, or Individual Taxpayer Identification Number) in order to use the online application.

If you were incorporated outside of the United States or the U.S. territories, you cannot apply for an EIN online. Please call us at (267) 941-1099 (this is not a toll free number) between the hours of 6:00 a.m. to 11:00 p.m. Eastern Time.

Q. What if I forget the number I obtained over the Internet?
A.
IRS records will be updated immediately with your EIN. Simply call (800) 829-4933 and select EIN from the list of options. Once connected with an IRS employee, tell the assistor you received an EIN from the Internet but can't remember it. The IRS employee will ask the necessary disclosure and security questions prior to providing the number.

Q. Do all the EINs obtained on the Internet start with 20, 26, 27, 45 or 46?
A.
Yes. The unique prefixes (20, 26, 27, 45 or 46) identify the EIN as a number issued via the Internet. Note: We cannot process your application online if the responsible party is an entity with an EIN previously obtained through the Internet. Please use one of our other methods to apply. See How to Apply for an EIN. We apologize for any inconvenience this may cause you.

Q. Do I need a certain computer or software to obtain an EIN over the Internet?
A
. No. You can go to IRS.gov through any computer that has Internet access. You should have a current Internet browser, which will allow you to view and complete the application process. However, you will need Adobe Reader installed if you would like to receive a confirmation letter online.

Q. Now that I have my EIN, when can I use it to make tax deposits?
A.
Based on the information you submit on your application or if you indicate you will have employees, you will automatically be enrolled in the Electronic Federal Tax Payment System—EFTPS—so you can make all your deposits online or by phone. Within a few days you will receive by mail your EFTPS enrollment confirmation, as well as a Personal Identification Number (PIN) and complete instructions for using EFTPS. You will need to wait until you receive your EFTPS information in the mail before you can make a payment electronically. Once you receive your EFTPS Confirmation Package, you can begin making EFTPS payments.

EFTPS is a service provided free by the U.S. Department of the Treasury that allows individual and business taxpayers to initiate all Federal tax payments using the Internet or phone. You can input your tax payments 24 hours a day, 7 days a week using a secure government website or an automated voice response phone system. Refer to Publication 4275, EFTPS Express Enrollment for New Businesses for additional information about EFTPS.

Page Last Reviewed or Updated: 03-Jan-2014

The College Student Filing Taxes

College student filing taxes 24. College student filing taxes   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. College student filing taxes Household items. College student filing taxes Deduction more than $500. College student filing taxes Form 1098-C. College student filing taxes Filing deadline approaching and still no Form 1098-C. College student filing taxes Exception 1—vehicle used or improved by organization. College student filing taxes Exception 2—vehicle given or sold to needy individual. College student filing taxes Deduction $500 or less. College student filing taxes Right to use property. College student filing taxes Tangible personal property. College student filing taxes Future interest. College student filing taxes Determining Fair Market Value Giving Property That Has Decreased in Value Giving Property That Has Increased in Value When To DeductChecks. College student filing taxes Text message. College student filing taxes Credit card. College student filing taxes Pay-by-phone account. College student filing taxes Stock certificate. College student filing taxes Promissory note. College student filing taxes Option. College student filing taxes Borrowed funds. College student filing taxes 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. College student filing taxes It discusses the following topics. College student filing taxes The types of organizations to which you can make deductible charitable contributions. College student filing taxes The types of contributions you can deduct. College student filing taxes How much you can deduct. College student filing taxes What records you must keep. College student filing taxes How to report your charitable contributions. College student filing taxes A charitable contribution is a donation or gift to, or for the use of, a qualified organization. College student filing taxes It is voluntary and is made without getting, or expecting to get, anything of equal value. College student filing taxes Form 1040 required. College student filing taxes    To deduct a charitable contribution, you must file Form 1040 and itemize deductions on Schedule A. College student filing taxes The amount of your deduction may be limited if certain rules and limits explained in this chapter apply to you. College student filing taxes The limits are explained in detail in Publication 526. College student filing taxes 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. College student filing taxes Most organizations other than churches and governments must apply to the IRS to become a qualified organization. College student filing taxes How to check whether an organization can receive deductible charitable contributions. College student filing taxes   You can ask any organization whether it is a qualified organization, and most will be able to tell you. College student filing taxes Or go to IRS. College student filing taxes gov. College student filing taxes Click on “Tools” and then on “Exempt Organizations Select Check” (www. College student filing taxes irs. College student filing taxes gov/Charities-&-Non-Profits/Exempt-Organizations-Select-Check). College student filing taxes This online tool will enable you to search for qualified organizations. College student filing taxes You can also call the IRS to find out if an organization is qualified. College student filing taxes Call 1-877-829-5500. College student filing taxes 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. College student filing taxes Deaf or hard of hearing individuals can also contact the IRS through relay services such as the Federal Relay Service at www. College student filing taxes gsa. College student filing taxes gov/fedrelay. College student filing taxes Types of Qualified Organizations Generally, only the following types of organizations can be qualified organizations. College student filing taxes 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). College student filing taxes 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. College student filing taxes Certain organizations that foster national or international amateur sports competition also qualify. College student filing taxes War veterans' organizations, including posts, auxiliaries, trusts, or foundations, organized in the United States or any of its possessions (including Puerto Rico). College student filing taxes Domestic fraternal societies, orders, and associations operating under the lodge system. College student filing taxes (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. College student filing taxes ) Certain nonprofit cemetery companies or corporations. College student filing taxes (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. College student filing taxes ) The United States or any state, the District of Columbia, a U. College student filing taxes S. College student filing taxes possession (including Puerto Rico), a political subdivision of a state or U. College student filing taxes S. College student filing taxes possession, or an Indian tribal government or any of its subdivisions that perform substantial government functions. College student filing taxes (Your contribution to this type of organization is only deductible if it is to be used solely for public purposes. College student filing taxes ) Examples. College student filing taxes    The following list gives some examples of qualified organizations. College student filing taxes Churches, a convention or association of churches, temples, synagogues, mosques, and other religious organizations. College student filing taxes Most nonprofit charitable organizations such as the American Red Cross and the United Way. College student filing taxes Most nonprofit educational organizations, including the Boy Scouts of America, Girl Scouts of America, colleges, and museums. College student filing taxes 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. College student filing taxes 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 . College student filing taxes Nonprofit hospitals and medical research organizations. College student filing taxes Utility company emergency energy programs, if the utility company is an agent for a charitable organization that assists individuals with emergency energy needs. College student filing taxes Nonprofit volunteer fire companies. College student filing taxes Nonprofit organizations that develop and maintain public parks and recreation facilities. College student filing taxes Civil defense organizations. College student filing taxes Certain foreign charitable organizations. College student filing taxes   Under income tax treaties with Canada, Israel, and Mexico, you may be able to deduct contributions to certain Canadian, Israeli, or Mexican charitable organizations. College student filing taxes Generally, you must have income from sources in that country. College student filing taxes For additional information on the deduction of contributions to Canadian charities, see Publication 597, Information on the United States–Canada Income Tax Treaty. College student filing taxes If you need more information on how to figure your contribution to Mexican and Israeli charities, see Publication 526. College student filing taxes Contributions You Can Deduct Generally, you can deduct contributions of money or property you make to, or for the use of, a qualified organization. College student filing taxes 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. College student filing taxes The contributions must be made to a qualified organization and not set aside for use by a specific person. College student filing taxes 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. College student filing taxes See Contributions of Property , later in this chapter. College student filing taxes 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. College student filing taxes See Limits on Deductions , later. College student filing taxes In addition, the total of your charitable contribution deduction and certain other itemized deductions may be limited. College student filing taxes See chapter 29. College student filing taxes Table 24-1 gives examples of contributions you can and cannot deduct. College student filing taxes 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. College student filing taxes Also see Contributions From Which You Benefit under Contributions You Cannot Deduct, later. College student filing taxes If you pay more than fair market value to a qualified organization for goods or services, the excess may be a charitable contribution. College student filing taxes For the excess amount to qualify, you must pay it with the intent to make a charitable contribution. College student filing taxes Example 1. College student filing taxes You pay $65 for a ticket to a dinner-dance at a church. College student filing taxes Your entire $65 payment goes to the church. College student filing taxes The ticket to the dinner-dance has a fair market value of $25. College student filing taxes When you buy your ticket, you know that its value is less than your payment. College student filing taxes To figure the amount of your charitable contribution, subtract the value of the benefit you receive ($25) from your total payment ($65). College student filing taxes You can deduct $40 as a contribution to the church. College student filing taxes Example 2. College student filing taxes At a fundraising auction conducted by a charity, you pay $600 for a week's stay at a beach house. College student filing taxes The amount you pay is no more than the fair rental value. College student filing taxes You have not made a deductible charitable contribution. College student filing taxes Athletic events. College student filing taxes   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. College student filing taxes   If any part of your payment is for tickets (rather than the right to buy tickets), that part is not deductible. College student filing taxes Subtract the price of the tickets from your payment. College student filing taxes You can deduct 80% of the remaining amount as a charitable contribution. College student filing taxes Example 1. College student filing taxes You pay $300 a year for membership in a university's athletic scholarship program. College student filing taxes 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. College student filing taxes You can deduct $240 (80% of $300) as a charitable contribution. College student filing taxes Table 24-1. College student filing taxes Examples of Charitable Contributions—A Quick Check Use the following lists for a quick check of whether you can deduct a contribution. College student filing taxes See the rest of this chapter for more information and additional rules and limits that may apply. College student filing taxes 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. College student filing taxes 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. College student filing taxes 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. College student filing taxes You must subtract the usual price of a ticket ($120) from your $300 payment. College student filing taxes The result is $180. College student filing taxes Your deductible charitable contribution is $144 (80% of $180). College student filing taxes Charity benefit events. College student filing taxes   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. College student filing taxes   If there is an established charge for the event, that charge is the value of your benefit. College student filing taxes If there is no established charge, the reasonable value of the right to attend the event is the value of your benefit. College student filing taxes Whether you use the tickets or other privileges has no effect on the amount you can deduct. College student filing taxes However, if you return the ticket to the qualified organization for resale, you can deduct the entire amount you paid for the ticket. College student filing taxes    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. College student filing taxes If the ticket shows the price of admission and the amount of the contribution, you can deduct the contribution amount. College student filing taxes Example. College student filing taxes You pay $40 to see a special showing of a movie for the benefit of a qualified organization. College student filing taxes Printed on the ticket is “Contribution—$40. College student filing taxes ” If the regular price for the movie is $8, your contribution is $32 ($40 payment − $8 regular price). College student filing taxes Membership fees or dues. College student filing taxes    You may be able to deduct membership fees or dues you pay to a qualified organization. College student filing taxes However, you can deduct only the amount that is more than the value of the benefits you receive. College student filing taxes    You cannot deduct dues, fees, or assessments paid to country clubs and other social organizations. College student filing taxes They are not qualified organizations. College student filing taxes Certain membership benefits can be disregarded. College student filing taxes   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. College student filing taxes 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. College student filing taxes 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. College student filing taxes 20. College student filing taxes Token items. College student filing taxes   You do not have to reduce your contribution by the value of any benefit you receive if both of the following are true. College student filing taxes You receive only a small item or other benefit of token value. College student filing taxes 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. College student filing taxes Written statement. College student filing taxes   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. College student filing taxes 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. College student filing taxes It must also give you a good faith estimate of the value of those goods or services. College student filing taxes   The organization can give you the statement either when it solicits or when it receives the payment from you. College student filing taxes Exception. College student filing taxes   An organization will not have to give you this statement if one of the following is true. College student filing taxes 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. College student filing taxes You receive only items whose value is not substantial as described under Token items , earlier. College student filing taxes You receive only membership benefits that can be disregarded, as described earlier. College student filing taxes Expenses Paid for Student Living With You You may be able to deduct some expenses of having a student live with you. College student filing taxes 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. College student filing taxes You can deduct up to $50 a month for each full calendar month the student lives with you. College student filing taxes Any month when conditions (1) through (3) are met for 15 days or more counts as a full month. College student filing taxes For additional information, see Expenses Paid for Student Living With You in Publication 526. College student filing taxes Mutual exchange program. College student filing taxes   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. College student filing taxes Table 24-2. College student filing taxes Volunteers' Questions and Answers If you volunteer for a qualified organization, the following questions and answers may apply to you. College student filing taxes All of the rules explained in this chapter also apply. College student filing taxes See, in particular, Out-of-Pocket Expenses in Giving Services . College student filing taxes Question Answer I volunteer 6 hours a week in the office of a qualified organization. College student filing taxes The receptionist is paid $10 an hour for the same work. College student filing taxes Can I deduct $60 a week for my time?    No, you cannot deduct the value of your time or services. College student filing taxes The office is 30 miles from my home. College student filing taxes 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. College student filing taxes If you don't want to figure your actual costs, you can deduct 14 cents for each mile. College student filing taxes I volunteer as a Red Cross nurse's aide at a hospital. College student filing taxes 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. College student filing taxes I pay a babysitter to watch my children while I volunteer for a qualified organization. College student filing taxes 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. College student filing taxes (If you have childcare expenses so you can work for pay, see chapter 32. College student filing taxes ) 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. College student filing taxes 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. College student filing taxes Table 24-2 contains questions and answers that apply to some individuals who volunteer their services. College student filing taxes Conventions. College student filing taxes   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. College student filing taxes However, see Travel , later. College student filing taxes   You cannot deduct personal expenses for sightseeing, fishing parties, theater tickets, or nightclubs. College student filing taxes You also cannot deduct transportation, meals and lodging, and other expenses for your spouse or children. College student filing taxes    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. College student filing taxes You can, however, deduct unreimbursed expenses that are directly connected with giving services for your church during the convention. College student filing taxes Uniforms. College student filing taxes   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. College student filing taxes Foster parents. College student filing taxes   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. College student filing taxes A qualified organization must select the individuals you take into your home for foster care. College student filing taxes    You can deduct expenses that meet both of the following requirements. College student filing taxes They are unreimbursed out-of-pocket expenses to feed, clothe, and care for the foster child. College student filing taxes They are incurred primarily to benefit the qualified organization. College student filing taxes   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. College student filing taxes For details, see chapter 3. College student filing taxes Example. College student filing taxes You cared for a foster child because you wanted to adopt her, not to benefit the agency that placed her in your home. College student filing taxes Your unreimbursed expenses are not deductible as charitable contributions. College student filing taxes Car expenses. College student filing taxes   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. College student filing taxes You cannot deduct general repair and maintenance expenses, depreciation, registration fees, or the costs of tires or insurance. College student filing taxes    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. College student filing taxes   You can deduct parking fees and tolls whether you use your actual expenses or the standard mileage rate. College student filing taxes   You must keep reliable written records of your car expenses. College student filing taxes For more information, see Car expenses under Records To Keep, later. College student filing taxes Travel. College student filing taxes   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. College student filing taxes This applies whether you pay the expenses directly or indirectly. College student filing taxes You are paying the expenses indirectly if you make a payment to the charitable organization and the organization pays for your travel expenses. College student filing taxes   The deduction for travel expenses will not be denied simply because you enjoy providing services to the charitable organization. College student filing taxes 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. College student filing taxes 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. College student filing taxes Example 1. College student filing taxes You are a troop leader for a tax-exempt youth group and you take the group on a camping trip. College student filing taxes You are responsible for overseeing the setup of the camp and for providing adult supervision for other activities during the entire trip. College student filing taxes You participate in the activities of the group and enjoy your time with them. College student filing taxes You oversee the breaking of camp and you transport the group home. College student filing taxes You can deduct your travel expenses. College student filing taxes Example 2. College student filing taxes You sail from one island to another and spend 8 hours a day counting whales and other forms of marine life. College student filing taxes The project is sponsored by a charitable organization. College student filing taxes In most circumstances, you cannot deduct your expenses. College student filing taxes Example 3. College student filing taxes You work for several hours each morning on an archaeological dig sponsored by a charitable organization. College student filing taxes The rest of the day is free for recreation and sightseeing. College student filing taxes You cannot take a charitable contribution deduction even though you work very hard during those few hours. College student filing taxes Example 4. College student filing taxes You spend the entire day attending a charitable organization's regional meeting as a chosen representative. College student filing taxes In the evening you go to the theater. College student filing taxes You can claim your travel expenses as charitable contributions, but you cannot claim the cost of your evening at the theater. College student filing taxes Daily allowance (per diem). College student filing taxes   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. College student filing taxes You may be able to deduct any necessary travel expenses that are more than the allowance. College student filing taxes Deductible travel expenses. College student filing taxes   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. College student filing taxes Because these travel expenses are not business-related, they are not subject to the same limits as business-related expenses. College student filing taxes For information on business travel expenses, see Travel Expenses in chapter 26. College student filing taxes Contributions You Cannot Deduct There are some contributions you cannot deduct, such as those made to specific individuals and those made to nonqualified organizations. College student filing taxes (See Contributions to Individuals and Contributions to Nonqualified Organizations , next. College student filing taxes ) There are others you can deduct only part of, as discussed later under Contributions From Which You Benefit . College student filing taxes Contributions to Individuals You cannot deduct contributions to specific individuals, including the following. College student filing taxes Contributions to fraternal societies made for the purpose of paying medical or burial expenses of deceased members. College student filing taxes Contributions to individuals who are needy or worthy. College student filing taxes You cannot deduct these contributions even if you make them to a qualified organization for the benefit of a specific person. College student filing taxes 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. College student filing taxes Example. College student filing taxes You can deduct contributions to a qualified organization for flood relief, hurricane relief, or other disaster relief. College student filing taxes However, you cannot deduct contributions earmarked for relief of a particular individual or family. College student filing taxes Payments to a member of the clergy that can be spent as he or she wishes, such as for personal expenses. College student filing taxes Expenses you paid for another person who provided services to a qualified organization. College student filing taxes Example. College student filing taxes Your son does missionary work. College student filing taxes You pay his expenses. College student filing taxes You cannot claim a deduction for your son's unreimbursed expenses related to his contribution of services. College student filing taxes Payments to a hospital that are for a specific patient's care or for services for a specific patient. College student filing taxes You cannot deduct these payments even if the hospital is operated by a city, a state, or other qualified organization. College student filing taxes Contributions to Nonqualified Organizations You cannot deduct contributions to organizations that are not qualified to receive tax-deductible contributions, including the following. College student filing taxes 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. College student filing taxes Chambers of commerce and other business leagues or organizations (but see chapter 28). College student filing taxes Civic leagues and associations. College student filing taxes Communist organizations. College student filing taxes Country clubs and other social clubs. College student filing taxes Most foreign organizations (other than certain Canadian, Israeli, or Mexican charitable organizations). College student filing taxes For details, see Publication 526. College student filing taxes Homeowners' associations. College student filing taxes Labor unions (but see chapter 28). College student filing taxes Political organizations and candidates. College student filing taxes 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. College student filing taxes See Contributions From Which You Benefit under Contributions You Can Deduct, earlier. College student filing taxes These contributions include the following. College student filing taxes Contributions for lobbying. College student filing taxes This includes amounts that you earmark for use in, or in connection with, influencing specific legislation. College student filing taxes Contributions to a retirement home for room, board, maintenance, or admittance. College student filing taxes Also, if the amount of your contribution depends on the type or size of apartment you will occupy, it is not a charitable contribution. College student filing taxes Costs of raffles, bingo, lottery, etc. College student filing taxes 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. College student filing taxes 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. College student filing taxes Dues to fraternal orders and similar groups. College student filing taxes However, see Membership fees or dues , earlier, under Contributions You Can Deduct. College student filing taxes Tuition, or amounts you pay instead of tuition. College student filing taxes 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. College student filing taxes 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. College student filing taxes ” 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. College student filing taxes Personal Expenses You cannot deduct personal, living, or family expenses, such as the following items. College student filing taxes 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. College student filing taxes 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). College student filing taxes You also may be able to claim an exemption for the child. College student filing taxes See Adopted child in chapter 3. College student filing taxes 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). College student filing taxes 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. College student filing taxes However, if the property has increased in value, you may have to make some adjustments to the amount of your deduction. College student filing taxes See Giving Property That Has Increased in Value , later. College student filing taxes 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. College student filing taxes Clothing and household items. College student filing taxes   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. College student filing taxes Exception. College student filing taxes   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. College student filing taxes Household items. College student filing taxes   Household items include: Furniture and furnishings, Electronics, Appliances, Linens, and Other similar items. College student filing taxes   Household items do not include: Food, Paintings, antiques, and other objects of art, Jewelry and gems, and Collections. College student filing taxes Cars, boats, and airplanes. College student filing taxes    The following rules apply to any donation of a qualified vehicle. College student filing taxes 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. College student filing taxes Deduction more than $500. College student filing taxes   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. College student filing taxes 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. College student filing taxes Form 1098-C. College student filing taxes   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. College student filing taxes The Form 1098-C (or other statement) will show the gross proceeds from the sale of the vehicle. College student filing taxes   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. College student filing taxes   If you do not attach Form 1098-C (or other statement), you cannot deduct your contribution. College student filing taxes    You must get Form 1098-C (or other statement) within 30 days of the sale of the vehicle. College student filing taxes But if exception 1 or 2 (described later) applies, you must get Form 1098-C (or other statement) within 30 days of your donation. College student filing taxes Filing deadline approaching and still no Form 1098-C. College student filing taxes   If the filing deadline is approaching and you still do not have a Form 1098-C, you have two choices. College student filing taxes Request an automatic 6-month extension of time to file your return. College student filing taxes You can get this extension by filing Form 4868, Application for Automatic Extension of Time to File U. College student filing taxes S. College student filing taxes Individual Income Tax Return. College student filing taxes  For more information, see Automatic Extension in chapter 1. College student filing taxes File the return on time without claiming the deduction for the qualified vehicle. College student filing taxes After receiving the Form 1098-C, file an amended return, Form 1040X, claiming the deduction. College student filing taxes Attach Copy B of Form 1098-C (or other statement) to the amended return. College student filing taxes For more information about amended returns, see Amended Returns and Claims for Refund in chapter 1. College student filing taxes Exceptions. College student filing taxes   There are two exceptions to the rules just described for deductions of more than $500. College student filing taxes Exception 1—vehicle used or improved by organization. College student filing taxes   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. College student filing taxes 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. College student filing taxes The Form 1098-C (or other statement) will show whether this exception applies. College student filing taxes Exception 2—vehicle given or sold to needy individual. College student filing taxes   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. College student filing taxes 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. College student filing taxes The Form 1098-C (or other statement) will show whether this exception applies. College student filing taxes   This exception does not apply if the organization sells the vehicle at auction. College student filing taxes In that case, you cannot deduct the vehicle's fair market value. College student filing taxes Example. College student filing taxes Anita donates a used car to a qualified organization. College student filing taxes She bought it 3 years ago for $9,000. College student filing taxes A used car guide shows the fair market value for this type of car is $6,000. College student filing taxes However, Anita gets a Form 1098-C from the organization showing the car was sold for $2,900. College student filing taxes Neither exception 1 nor exception 2 applies. College student filing taxes If Anita itemizes her deductions, she can deduct $2,900 for her donation. College student filing taxes She must attach Form 1098-C and Form 8283 to her return. College student filing taxes Deduction $500 or less. College student filing taxes   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. College student filing taxes 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. College student filing taxes   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. College student filing taxes 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. College student filing taxes Partial interest in property. College student filing taxes   Generally, you cannot deduct a charitable contribution of less than your entire interest in property. College student filing taxes Right to use property. College student filing taxes   A contribution of the right to use property is a contribution of less than your entire interest in that property and is not deductible. College student filing taxes For exceptions and more information, see Partial Interest in Property Not in Trust in Publication 561. College student filing taxes Future interests in tangible personal property. College student filing taxes   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. College student filing taxes Tangible personal property. College student filing taxes   This is any property, other than land or buildings, that can be seen or touched. College student filing taxes It includes furniture, books, jewelry, paintings, and cars. College student filing taxes Future interest. College student filing taxes   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. College student filing taxes Determining Fair Market Value This section discusses general guidelines for determining the fair market value of various types of donated property. College student filing taxes Publication 561 contains a more complete discussion. College student filing taxes 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. College student filing taxes Used clothing and household items. College student filing taxes   The fair market value of used clothing and household goods is usually far less than what you paid for them when they were new. College student filing taxes   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. College student filing taxes See Household Goods in Publication 561 for information on the valuation of household goods, such as furniture, appliances, and linens. College student filing taxes Example. College student filing taxes Dawn Greene donated a coat to a thrift store operated by her church. College student filing taxes She paid $300 for the coat 3 years ago. College student filing taxes Similar coats in the thrift store sell for $50. College student filing taxes The fair market value of the coat is $50. College student filing taxes Dawn's donation is limited to $50. College student filing taxes Cars, boats, and airplanes. College student filing taxes   If you contribute a car, boat, or airplane to a charitable organization, you must determine its fair market value. College student filing taxes 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. College student filing taxes The guides may be published monthly or seasonally and for different regions of the country. College student filing taxes These guides also provide estimates for adjusting for unusual equipment, unusual mileage, and physical condition. College student filing taxes The prices are not “official” and these publications are not considered an appraisal of any specific donated property. College student filing taxes But they do provide clues for making an appraisal and suggest relative prices for comparison with current sales and offerings in your area. College student filing taxes   You can also find used car pricing information on the Internet. College student filing taxes Example. College student filing taxes You donate a used car in poor condition to a local high school for use by students studying car repair. College student filing taxes A used car guide shows the dealer retail value for this type of car in poor condition is $1,600. College student filing taxes However, the guide shows the price for a private party sale of the car is only $750. College student filing taxes The fair market value of the car is considered to be $750. College student filing taxes Large quantities. College student filing taxes   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. College student filing taxes 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. College student filing taxes You cannot claim a deduction for the difference between the property's basis and its fair market value. College student filing taxes 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. College student filing taxes Your basis in property is generally what you paid for it. College student filing taxes See chapter 13 if you need more information about basis. College student filing taxes Different rules apply to figuring your deduction, depending on whether the property is: Ordinary income property, or Capital gain property. College student filing taxes Ordinary income property. College student filing taxes   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. College student filing taxes 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. College student filing taxes Amount of deduction. College student filing taxes   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. College student filing taxes Generally, this rule limits the deduction to your basis in the property. College student filing taxes Example. College student filing taxes You donate stock you held for 5 months to your church. College student filing taxes The fair market value of the stock on the day you donate it is $1,000, but you paid only $800 (your basis). College student filing taxes 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). College student filing taxes Capital gain property. College student filing taxes   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. College student filing taxes 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. College student filing taxes Amount of deduction — general rule. College student filing taxes   When figuring your deduction for a contribution of capital gain property, you generally can use the fair market value of the property. College student filing taxes Exceptions. College student filing taxes   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. College student filing taxes Generally, this means reducing the fair market value to the property's cost or other basis. College student filing taxes Bargain sales. College student filing taxes   A bargain sale of property is a sale or exchange for less than the property's fair market value. College student filing taxes A bargain sale to a qualified organization is partly a charitable contribution and partly a sale or exchange. College student filing taxes A bargain sale may result in a taxable gain. College student filing taxes More information. College student filing taxes   For more information on donating appreciated property, see Giving Property That Has Increased in Value in Publication 526. College student filing taxes 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 ). College student filing taxes This applies whether you use the cash or an accrual method of accounting. College student filing taxes Time of making contribution. College student filing taxes   Usually, you make a contribution at the time of its unconditional delivery. College student filing taxes Checks. College student filing taxes   A check you mail to a charity is considered delivered on the date you mail it. College student filing taxes Text message. College student filing taxes   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. College student filing taxes Credit card. College student filing taxes    Contributions charged on your credit card are deductible in the year you make the charge. College student filing taxes Pay-by-phone account. College student filing taxes    Contributions made through a pay-by-phone account are considered delivered on the date the financial institution pays the amount. College student filing taxes Stock certificate. College student filing taxes   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. College student filing taxes 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. College student filing taxes Promissory note. College student filing taxes   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. College student filing taxes Option. College student filing taxes    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. College student filing taxes Borrowed funds. College student filing taxes   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. College student filing taxes Limits on Deductions The amount you can deduct for charitable contributions cannot be more than 50% of your adjusted gross income (AGI). College student filing taxes 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. College student filing taxes If your total contributions for the year are 20% or less of your AGI, these limits do not apply to you. College student filing taxes The limits are discussed in detail under Limits on Deductions in Publication 526. College student filing taxes A higher limit applies to certain qualified conservation contributions. College student filing taxes See Publication 526 for details. College student filing taxes Carryovers You can carry over any contributions you cannot deduct in the current year because they exceed your adjusted-gross-income limits. College student filing taxes You can deduct the excess in each of the next 5 years until it is used up, but not beyond that time. College student filing taxes For more information, see Carryovers in Publication 526. College student filing taxes Records To Keep You must keep records to prove the amount of the contributions you make during the year. College student filing taxes 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. College student filing taxes Note. College student filing taxes 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. College student filing taxes (See Contributions From Which You Benefit under Contributions You Can Deduct, earlier. College student filing taxes ) Keep the statement for your records. College student filing taxes It may satisfy all or part of the recordkeeping requirements explained in the following discussions. College student filing taxes Cash Contributions Cash contributions include those paid by cash, check, electronic funds transfer, debit card, credit card, or payroll deduction. College student filing taxes You cannot deduct a cash contribution, regardless of the amount, unless you keep one of the following. College student filing taxes A bank record that shows the name of the qualified organization, the date of the contribution, and the amount of the contribution. College student filing taxes Bank records may include: A canceled check, A bank or credit union statement, or A credit card statement. College student filing taxes 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. College student filing taxes The payroll deduction records described next. College student filing taxes Payroll deductions. College student filing taxes   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. College student filing taxes If your employer withheld $250 or more from a single paycheck, see Contributions of $250 or More , next. College student filing taxes 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. College student filing taxes 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. College student filing taxes Amount of contribution. College student filing taxes   In figuring whether your contribution is $250 or more, do not combine separate contributions. College student filing taxes For example, if you gave your church $25 each week, your weekly payments do not have to be combined. College student filing taxes Each payment is a separate contribution. College student filing taxes   If contributions are made by payroll deduction, the deduction from each paycheck is treated as a separate contribution. College student filing taxes   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. College student filing taxes Acknowledgment. College student filing taxes   The acknowledgment must meet these tests. College student filing taxes It must be written. College student filing taxes 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. College student filing taxes The acknowledgment does not need to describe or estimate the value of an intangible religious benefit. College student filing taxes An intangible religious benefit is a benefit that generally is not sold in commercial transactions outside a donative (gift) context. College student filing taxes An example is admission to a religious ceremony. College student filing taxes 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. College student filing taxes   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. College student filing taxes If the acknowledgment shows the date of the contribution and meets the other tests just described, you do not need any other records. College student filing taxes Payroll deductions. College student filing taxes   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. College student filing taxes 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. College student filing taxes   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. College student filing taxes 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). College student filing taxes 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. College student filing taxes Amount of deduction. College student filing taxes   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. College student filing taxes   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. College student filing taxes 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. College student filing taxes 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. College student filing taxes 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. College student filing taxes 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). College student filing taxes Additional records. College student filing taxes   You must also keep reliable written records for each item of contributed property. College student filing taxes Your written records must include the following information. College student filing taxes The name and address of the organization to which you contributed. College student filing taxes The date and location of the contribution. College student filing taxes A description of the property in detail reasonable under the circumstances. College student filing taxes 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. College student filing taxes The fair market value of the property at the time of the contribution and how you figured the fair market value. College student filing taxes If it was determined by appraisal, keep a signed copy of the appraisal. College student filing taxes The cost or other basis of the property, if you must reduce its fair market value by appreciation. College student filing taxes Your records should also include the amount of the reduction and how you figured it. College student filing taxes 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. College student filing taxes Your records must include the amount you claimed as a deduction in any earlier years for contributions of other interests in this property. College student filing taxes 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. College student filing taxes The terms of any conditions attached to the contribution of property. College student filing taxes 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. College student filing taxes 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. College student filing taxes 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 . College student filing taxes The acknowledgment must also meet these tests. College student filing taxes It must be written. College student filing taxes 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). College student filing taxes 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. College student filing taxes 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. College student filing taxes Deductions Over $500 You are required to give additional information if you claim a deduction over $500 for noncash charitable contributions. College student filing taxes See Records To Keep in Publication 526 for more information. College student filing taxes 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. College student filing taxes You must have adequate records to prove the amount of the expenses. College student filing taxes 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. College student filing taxes The acknowledgment does not need to describe or estimate the value of an intangible religious benefit (defined earlier under Acknowledgment ). College student filing taxes 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. College student filing taxes Car expenses. College student filing taxes   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. College student filing taxes Whether your records are considered reliable depends on all the facts and circumstances. College student filing taxes Generally, they may be considered reliable if you made them regularly and at or near the time you had the expenses. College student filing taxes   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. College student filing taxes 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. College student filing taxes If you deduct your actual expenses, your records must show the costs of operating the car that are directly related to a charitable purpose. College student filing taxes   See Car expenses under Out-of-Pocket Expenses in Giving Services, earlier, for the expenses you can deduct. College student filing taxes How To Report Report your charitable contributions on Schedule A (Form 1040). College student filing taxes If your total deduction for all noncash contributions for the year is over $500, you must also file Form 8283. College student filing taxes See How To Report in Publication 526 for more information. College student filing taxes Prev  Up  Next   Home   More Online Publications