As you pour through your checkbook register and piles of receipts for tax reporting items, you may need to make a list of your 2018 charitable donations. For people who file using the itemized deduction method, and report your donations on Schedule A instead of using the standard deduction, you should have a list with the charity’s name, the date and the amount that was given followed by a grand total for your record of 2018 charitable donations.
- to a national political committee (DNC or RNC),
- to a local candidate running for legislative office, or maybe
- to a political fundraising event such as dinner.
For these donations, you made a contribution, but it’s not a tax deductible contribution. And while it’s tempting to include this payment as a donation, especially if your candidate lost, the fact is: a tax deduction is not allowed and it should be scratched from the list.
This might seem unfair, but here’s the second punch: there are others types of donations you may have made that are not deductible. Here is a quick list of other charitable contributions that don’t count as a deduction as noted in IRS Publication 526:
- Contributions to a specific individual,
- Contributions to a nonqualified organization (as in not determined by the IRS),
- The part of a contribution from which you receive or expect to receive a benefit,
- The value of your time or services,
- Your personal expenses,
- A qualified charitable distribution from an individual retirement arrangement (IRA),
- Appraisal fees,
- Certain contributions to donor advised funds, or
- Certain contributions of partial interests in property.