You are likely at this page because you’re wondering, “Can I get a tax deduction for donating my cards?” One advantage of donating your cards to Donate Cards is that your donation is tax-deductible on your federal taxes since Donate Cards is a registered 501(c)(3) public charitable organization. You may be wondering how to go about getting this tax deduction. This page will give you some information on that.
First and foremost, you should always consult with your tax preparer or accountant about any donation you are planning to make. The following is general information and you should not make your decision solely on it. Tax issues change and while we try to keep the information here up to date, we can’t guarantee the accuracy of all the information here, and that is why it’s important to talk with your tax preparer or accountant. The information below is a summary of the IRS Charitable Contributions Substantiation and Disclosure Requirements.
We do not put a value on your in-kind donation. We record the number of cards we receive from you and give tax documentation to that effect if requested. Here is some basic information that may be helpful as you consider your donation to us.
Whatever you value the donation of your cards you should be able to demonstrate how you came to this figure to the IRS if you ever should be audited. Again, this is another important reason to discuss with your accountant and/or tax preparer. Depending on the amount that you value the cards, there may be some extra information your need.
Value of up to $250
If you value the donation of cards at under $250, you don’t need a receipt (we are more than happy to provide one if you still desire it, but it isn’t needed for tax documentation). You can claim this amount without any proof of receipt.
Value of $250 to $500
If you value the card donation to be more than $250 but less than $500, you will need a receipt from Donate Cards confirming that you made the donation to us. Again, we won’t put a value on the receipt but it will contain the number of cards you donated to us.
Value of $500 to $5000
If you value the card donation to be more than $500 but less than $5000, you will need a receipt from Donate Cards and you’ll need the donation to be “described in full”. You will need to file federal tax form 8283 when you file the taxes. Again, consult with your tax preparer and/or accountant for the best way to describe the donation to meet this requirement.
Value of $5000+
If you value the card donation to be more than $5000, you must get a receipt from Donate Cards and the cards must be assessed by a “qualified appraiser”. Consult with your tax preparer and/or accountant on the best way to meet this requirement.
The above is basic information on how to make sure you get the tax deduction you’re entitled to for making a donation of cards to Donate Cards. If you have any further questions, feel free to reach out to us and we’ll do our best to answer any additional questions you may have.