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Mopey
04-09-2014, 12:57 PM
Hi guys,

Just a quick question as to when to take the donations my company gave: I gave a donation in November 2013 to a playgroup. The auction was in January and the cake is this weekend but the paperwork is dated November 2013. So should I add it onto my taxes now despite the auction in January, etc? Or do I wait until next year?

Many, many TIA!!
SnuggleBuggles
04-09-2014, 01:57 PM
I just hosted an event and started asking for donations last December. Businesses wanted to donate back in Dec. so it would count on their taxes for last year. So, I think the time of the donation not event is what matters. Hmm, curious about a more official answer now.
Mopey
04-09-2014, 02:18 PM
I just hosted an event and started asking for donations last December. Businesses wanted to donate back in Dec. so it would count on their taxes for last year. So, I think the time of the donation not event is what matters. Hmm, curious about a more official answer now.

See, now my hubby said he doesn't think I can claim it for last year as I hadn't any expenses related to the cake then - only in 2014 since the cake is this weekend. I just finished everything so I'm leaving it for next year. Giantbear? You're the only accountant I can think of on here!

ETA: Thanks SB!
ett
04-09-2014, 02:33 PM
I'm no expert by any means but I would think to file for 2013 since your paperwork is dated that.
BunnyBee
04-09-2014, 02:45 PM
Did you donate the actual cake in 2013 or did you pledge to donate a cake in 2013? Also, check that the playgroup is an exempt charitable organization.
https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/Charitable-Contributions/INF12011.html
Mopey
04-09-2014, 03:29 PM
Did you donate the actual cake in 2013 or did you pledge to donate a cake in 2013? Also, check that the playgroup is an exempt charitable organization.
https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/Charitable-Contributions/INF12011.html

I pledged. The cake is this weekend. It is a church playgroup so exempt. Crikey.....now wondering if I should get it in there. It's a few hundred....
Giantbear
04-09-2014, 04:48 PM
See, now my hubby said he doesn't think I can claim it for last year as I hadn't any expenses related to the cake then - only in 2014 since the cake is this weekend. I just finished everything so I'm leaving it for next year. Giantbear? You're the only accountant I can think of on here!

ETA: Thanks SB!
sorry, as you can imagine, not much time for boards this week. You can only take the deduction when it is actually made, not when it is pledged.
Mopey
04-10-2014, 12:39 PM
sorry, as you can imagine, not much time for boards this week. You can only take the deduction when it is actually made, not when it is pledged.

Thanks so much GB! I really appreciate the confirmation as I know you're swamped!! Luck with all your clients!
mommylamb
04-10-2014, 12:45 PM
I think it's the time of the donation. I mean, if I donate clothes to a charity that runs a thrift store, and they don't sell until the following year, I'm still taking the donation for the year in which I made the donation.
Mopey
04-10-2014, 12:58 PM
I think it's the time of the donation. I mean, if I donate clothes to a charity that runs a thrift store, and they don't sell until the following year, I'm still taking the donation for the year in which I made the donation.

Yes, but in this case I am donating time and tangible goods that I valued but had not yet given nor expensed.