Back to top

Blog

Click here to go back

Tax Glossary: Charitable Contribution

Posted by McDonald & Osborne Posted on Oct 13 2015

Charitable Contribution : A gift of cash or property to a qualified charity for which a tax deduction is allowed. A receipt is required as proof for any single contribution of $250 or more. You must also have either a receipt or a bank record (such as a cancelled check) to back up any donation of cash, regardless of the amount.