Which contributions must have a receipt for documentation?

The requirement for providing a receipt for contributions is tied to the IRS guidelines governing charitable donations. Specifically, contributions exceeding a certain amount must be documented with a receipt to qualify for a deduction.

In this case, contributions over $250 require written documentation, as stipulated by the IRS. This documentation serves as proof of the donation when claiming deductions on tax returns, ensuring that taxpayers have adequate records to substantiate their charitable contributions if requested during audits.

For contributions of $250 or less, a receipt is not strictly required to claim a deduction, although it is generally recommended to maintain good records. Therefore, recognizing the threshold of $250 clearly differentiates the requirements for various donation amounts, making it crucial for taxpayers to be aware of these regulations while preparing their taxes.