Use the Cash Donation tab to record information about any monetary gifts you have made. Cash gifts include:
Cash
Checks
Credit card transactions
Payroll deductions
Automatic withdrawals from your bank account
To record a cash donation:
On the Enter Deductions tab, click Cash Donations.
From the Charity Name drop-down list, select the charity that received your donation, or select Enter New and type the name of a charity (up to 37 characters).
Note: If you enter a new charity, make sure to enter its address on the Manage Charities tab.
In the Date box, type the date that you made the donation in mm/dd/yyyy format.
Tip: You can also click the calendar icon beside the box to display a calendar from which you can select a date.
From the Payment Method drop-down list, select the payment method used for the donation.
Tip: For debit card payments, electronic transfers, or automatic withdrawals from your checking or savings account, select Other from the drop-down list.
In the Amount Donated box, type the dollar amount of the donation.
Note: DeductionPro does not accept amounts over $10 million.
In the Benefit Received box, type the dollar value of any benefit you received in connection with your donation.
For example, if you donated $75.00 to a charity and received a hat worth $10.00, you would enter $10.00 in the Benefit Received box.
If you did not receive any benefit in exchange for your donation, leave the field blank.
DeductionPro automatically:
Calculates the Deduction Amount for you.
The Deduction Amount is equal to the Amount Donated minus the Benefit Received.
Saves your entry and updates Total Deductions and Est. Tax Savings when you leave the row.
To enter another donation, click either New Donation or New Recurring Donation. Learn about recurring donations
To print the list of cash donations, click Print. When the Print Preview window appears, click the printer icon, and then click OK in the Print dialog box.
When you’re done entering donations, click Save.
Note: DeductionPro automatically saves the entry as you complete each row. However, you must click Save to save the information entered in the last row.