The IRS requires that “regardless of the amount, to deduct a contribution of cash, check, or other monetary gift, you must maintain a
bank record, payroll deduction records or a written communication from the organization containing the name of the organization, the date
of the contribution and amount of the contribution.”
Givalike & Donatic provide members this information in one consolidated document. This tax receipt can be viewed at any time
within the member’s
personal accounts. In addition, the same information will be provided every February in a single PDF document, emailed to our members
via the email address provided.
In order to deduct a charitable contribution, you must file Form 1040 and itemize deductions on Schedule A (Form 1040). The amount of your
deduction may be limited if certain rules and limits explained within the IRS website apply to you (the IRS link to this information is
provided below).
Qualified organizations include 501(c)3 nonprofit groups that are religious, charitable, educational, scientific, or literary in purpose,
or that work to prevent cruelty to children or animals. Givalike & Donatic only support the described organizations,
so the full value of your receipt may be itemized for tax purposes.
Givalike & Donatic do not offer gifts in exchange for your donations; however, if for some reason you receive a benefit as a result of
making a contribution to a qualified organization, you can deduct only the amount of your contribution that is more than the value of the
benefit you receive.
Neither Givalike nor Donatic are legally authorized to provide tax advice.
You are encouraged to view the IRS website for
updated information before filing your tax documentation.