'Tis the Season for Giving

Now, if you want to deduct a cash contribution of any amount, you must have written confirmation that the charity actually received that amount from you.

For charitable contributions of less than $250, you must keep a canceled check, credit card receipt or electronic funds transfer receipt. Or you must have a letter from the charity acknowledging receipt of the contribution and stating its date and amount.

For charitable contributions of $250 or more, you'll also need a written receipt from the charity substantiating the amount of cash contributed and a description (but not the value) of any property -- other than cash -- contributed.

And you must disclose whether the organization provided any goods or services (such as a theater ticket or dinner) in return for the contribution.

If you donate property, such as clothing, valued at less than $250, you must keep a receipt from the charitable organization showing the charity's name, contribution date, physical location of the contribution and a detailed description of the property (but not its value).

For larger donations, you'll need even more documentation, including a description of how you acquired the property (purchase, gift, inheritance), the date you acquired the property and the original cost of that property. Donated property worth more than $5,000 requires a qualified appraisal, as do lesser-value objects that aren't in "good" condition.

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