Substantiation rules for out of pocket charitable expenses?

Posted by accountingweb on Nov 29 2010 1144 printer friendly

What are the substantiation rules for out of pocket charitable expenses, for example, travel to New Orleans to help build a habitat for humanity’s house?

According to Bill Roos, EA, the rules would be essentially the same as for an employee doing business travel. Since the costs are not business related, they are not subject to the limits that apply to business expenses. Because there is no standard meal allowance for charitable travel, the taxpayer will have to keep very good records.

For more helpful information on individual income tax issues like this one, download your free copy of the Federal Tax Update: Part 1 Q&A document offered by CPE Link. As additional questions and answers are added, the document will be updated. Those who have downloaded the original document will receive all updates automatically.

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