Kentucky Individual Income Tax Forms - Kentucky Department Of Revenue - 2012 Page 63
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76Political contributions.
Examples of qualifying organizations are:
Dues, fees or bills paid to country clubs, lodges, fraternal
Churches, temples, synagogues, Salvation Army, Red
orders or similar groups.
Cross, CARE, Goodwill Industries, United Way, Boy
Value of any benefit, such as food, entertainment or mer-
Scouts, Girl Scouts, Boys and Girls Clubs of America,
chandise that you received in connection with a contribu-
etc.
tion to a charitable organization.
Fraternal orders if the gifts will be used for the purposes
Cost of raffle, bingo or lottery tickets.
listed above.
Cost of tuition.
Veterans’ and certain cultural groups.
Value of your time or service.
Nonprofit schools, hospitals and organizations whose
Value of blood given to a blood bank.
purpose is to find a cure for, or help people who have
The transfer of a future interest in tangible personal
arthritis, asthma, birth defects, cancer, cerebral palsy,
property (generally, until the entire interest has been
cystic fibrosis, diabetes, heart disease, hemophilia,
transferred).
mental illness or retardation, multiple sclerosis, muscular
Gifts to:
dystrophy, tuberculosis, etc.
Individuals.
Federal, state and local governments if the gifts are solely
Foreign organizations.
for public purposes.
Groups that are run for personal profit.
Groups whose purpose is to lobby for changes in the
If you contributed to a qualifying charitable organization
laws.
and also received a benefit from it, you may deduct only
Civic leagues, social and sports clubs, labor unions and
the amount that is more than the value of the benefit you
chambers of commerce.
received.
Line 15—Enter all of your contributions paid by cash or check
Contributions You MAY Deduct
(including out-of-pocket expenses).
Contributions may be in cash, property or out-of-pocket
Line 16—Enter your contributions of property. If you gave
expenses you paid to do volunteer work for the kinds of
used items, such as clothing or furniture, deduct their fair
organizations described above. If you drove to and from the
market value at the time you gave them. Fair market value is
volunteer work, you may take 14 cents a mile or the actual
what a willing buyer would pay a willing seller when neither
cost of gas and oil. Add parking and tolls to the amount you
has to buy or sell and both are aware of the conditions of
claim under either method. (Do not deduct any amounts that
the sale. If your total deduction for gifts of property is more
were repaid to you.)
than $500, you must complete and attach federal Form 8283,
Note: You are required to maintain receipts, cancelled checks
Noncash Charitable Contributions. If your total deduction is
over $5,000, you may also have to obtain appraisals of the
or other reliable written documentation showing the name of
the organization and the date and amount given to support
values of the donated property. See federal Form 8283 and
its instructions for details.
claimed deductions for charitable contributions.
Also include the value of a leasehold interest property con-
Separate contributions of $250 or more require written
tributed to a charitable organization to provide temporary
substantiation from the donee organization in addition to
housing for the homeless. Attach Schedule HH.
your proof of payment. It is your responsibility to secure sub-
stantiation. A letter or other documentation from the qualify-
Recordkeeping—If you gave property, you should keep a
ing charitable organization that acknowledges receipt of the
receipt or written statement from the organization you gave
contribution and shows the date and amount constitutes a
the property to, or a reliable written record, that shows the
receipt. This substantiation should be kept in your files. Do
organization’s name and address, the date and location of the
not send it with your return.
gift and a description of the property. You should also keep
See federal Publication 526 for special rules that apply if:
reliable written records for each gift of property that include
the following information:
your total contributions exceed 50 percent of Line 9, Form
740,
(a) How you figured the property’s value at the time you
your total deduction for gifts of property is over $500,
gave it. (If the value was determined by an appraisal,
you should also keep a signed copy of the appraisal.)
you gave less than your entire interest in the property,
your cash contributions or contributions of ordinary
(b) The cost or other basis of the property if you must reduce
income property are more than 30 percent of Line 9,
it by any ordinary income or capital gain that would have
Form 740,
resulted if the property had been sold at its fair market
your gifts of capital gain property to certain organizations
value.
are more than 20 percent of Line 9, Form 740, or
(c) How you figured your deduction if you chose to reduce
you gave gifts of property that increased in value, made
your deduction for gifts of capital gain property.
bargain sales to charity, or gave gifts of the use of
property.
(d) Any conditions attached to the gift.
(e) If the gift was a “qualified conservation contribution”
You MAY NOT Deduct as Contributions
under IRC Section 170(h), the fair market value of the
Travel expenses (including meals and lodging) while away
underlying property before and after the gift, the type
from home unless there was no significant element of
of legal interest donated and the conservation purpose
personal pleasure, recreation or vacation in the travel.
furthered by the gift.
25
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