Charitable contributions can only be deducted if you itemize. All cash contributions to organizations like the Red Cross, churches, synagogues, mosques, and other qualified nonprofit organizations can be deducted. If items other than cash, like; clothes, furniture, appliances, or vehicles are donated you need to determine the cash value of those items. One way is to find out what your local thrift shop is charging for similarly used items. Be sure to use good judgment and don't overvalue your donations.

For more information: see IRS Publication 561: Determining the Value of Donated Property. (You can also request a free copy by calling the IRS at 1-800-TAX-FORM.)

Call or email The Tax Place for more information or assistance.