IRS Publication 526


DEFINITION of 'IRS Publication 526'

A document published by the Internal Revenue Service (IRS) that provides information on how a taxpayer can claim deductions for charitable contributions. IRS Publication 526 outlines the types of organizations that qualify for charitable deductions, the amount of contributions that can be deducted from a tax obligation, how to report contributions and the type of contributions that qualify. Organizations that qualify for tax deductions are non-profit groups, including scientific, educational, charitable and religious organizations as well as those dedicated to preventing cruelty to children or animals.

BREAKING DOWN 'IRS Publication 526'

Itemized deductions for charitable contributions must be made in Schedule A on Form 1040. Most organizations will be able to tell you whether contributions made to them will qualify for a deduction, however IRS Publication 78 also lists most organizations that qualify to receive tax-deductible contributions.

  1. Form 8282: Donee Information Return

    An IRS tax form used by organizations to report the sale or disposition ...
  2. Form 8283-V: Payment Voucher for ...

    An IRS tax form completed by taxpayers claiming a charitable ...
  3. IRS Publication 78

    A document published by the Internal Revenue Service (IRS) that ...
  4. Tax Deduction

    A deduction from gross income that arises due to various types ...
  5. 1040 Form

    The standard Internal Revenue Service (IRS) form that individuals ...
  6. Gift

    Property, money or assets that one person transfers to another ...
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