Question

For charitable donations to be deductible on a 2020 tax return, contemporaneous written acknowledgements must be received by the taxpayer which is correct

for each conriabutin made to a qualified charitable organization of $50 or more

and substantiate by a bank record orrceipt

from any qualified charibable organiz

Answer 1

For charitable donations to be deductible on a 2020 tax return , For contributions of cash, check or other monetary gift, which is more than $250 or more there should be a bank record or Contemporaneous written acknowledgement from the qualified charitable organisation containing the name of the organisation, the amount or the property donated and the date of the contribution for each contribution exceeding $250 or more.

for each conriabutin made to a qualified charitable organization of $50 or more

The option is incorrect because it is for each contribution made to a qualified charitable organization exceeding $250 or more

and substantiate by a bank record orrceipt

The option is correct because a bank order or receipt is sufficient

from any qualified charibable organiz

The option is incorrect because, the acknowledgement is required from the qualified organization to whom the donation is made but not from any qualified charitable organization.