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Charitable contributions

Question
What is sufficient evidence to support charitable contributions? 
Answer
Requirements to quality as a charitable contribution vary by the amount:

- Less than $250, your canceled check or a receipt from the charity is sufficient.

- $250 or more, you should get a written receipt or acknowledgment from the charity by the due date of your return describing your contribution.

- If a property donation is valued at over $5,000, you may also be required to obtain an appraisal and keep a record of this appraisal.

Other rules may apply so consult your tax professional. 
Brain Trust contributor: Author of J.K. Lasser's Small Business Taxes 2007
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