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Kiplinger: IRS Audit Red Flags

Taking Large Charitable Deductions

We all know that charitable contributions are a great write-off and help you feel all warm and fuzzy inside. However, if your charitable deductions are disproportionately large compared with your income, it raises a red flag.

That's because IRS computers know what the average charitable donation is for folks at your income level. Also, if you don't get an appraisal for donations of valuable property, or if you fail to file Form 8283 for donations over $500, the chances of audit increase. And if you've donated a conservation easement to a charity, chances are good that you'll hear from the IRS. Be sure to keep all your supporting documents, including receipts for cash and property contributions made during the year, and abide by the documentation rules. And attach Form 8283 if required.

(iStock)

More From Kiplinger:
The 19 Most-Overlooked Tax Deductions
QUIZ: Is It Deductible?
14 Extraordinary Tax Deductions



The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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