Will a large amount of charitable donations increase my chances of an audit?

[Pragmaticus]

Originally Posted by snowdenscold

Yeah but considering the relative popluations of people who can claim anything via medical deduction vs. those who can't, it would take an insanely high amount from those who do in order to meet those numbers.

Amounts so high that I have to believe there's been an error somewhere. So your distinction is noted, but it should make a difference.


For example, it says people in the 50K-99K range have an average of 7,269 for medical.

What % of that income bracket population do you think has > 7.5% AGI medical expenses? 1%?
I'll be generous and say 2%. That means the average person deducting medical expenses (meaning they actually paid these!) has an annual bill around $365,000. No way.

The number probably includes those with employer sponsored premiums, which this year is explicitly reported to IRS even though it is not counted as income against the filer.

[snowdenscold]

Well then the chart is just misleading/deceptive because people are NOT reducing their taxable income by that amount.

I care about line 4 on the Schedule A, not line 1.

[Modification Specialist]

Date: Thursday, June 14, 2012
From:....me...

Equipment Donation
To:School Of Rock Music
Farmingdale, New York 11735

• Qty Description Value
• 4 Lyte Quest Pro Motorhead - Purchase price $850 each $200 each x 4 = $800
• 1 Gemini Power Controller PC 90 Purchase price $350.00 $50
• 1 American DJ Switch model SC-8FC Purchase price $125.00 $50
• 1 ELECTROLITE CP10xt DMX Controller CP10xt $1200.00 $600.00
• 4 American DJ Startec 150 Ligthts Purchase Price $225.00 $150 each x 4 = $600.00
• 2 Clay-caky Silverado Purchase price $1450 each $750 each x 2 = $1500.00
• 1 Genini Mixer PS 757 Purchase price $125.00 $75.00
• 1 Numark PM1200 Mixer $150.00 $75.00
• 1 Numark CM100 Mixer $150.00 $75.00
• 17 Grundoft wooden cases $225.00 $150 each x 17 = $2550.00
• 1 Furman PL8 Power conditioner $50
• 1 Alesis 3630 Compressor $300.00 $50.00
• 2 Furman PL-Plus Power conditioner $125.00 $75.00 x 2 = $150
• 1 Dennon 2500F Dual CD Player $885.00 $150.00
• 1 Grundoft DJ Coffin 60 x 18 $225.00 $50.00

All items working today's value $6825.00

Received By ____________________________________

.

Gave DJ equipment to a music school this past year, itemized equipment model numbers with purchase price to value at the time given. Gave to my accountant, said perfect.