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Check IRS Publication 78, a list of organizations qualified to receive tax-deductible donations.
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Certain expenses can be deducted related to volunteer service.Īs a volunteer, some out-of-pocket expenses may be deducted. But certain expenses related to the charitable work may be claimed. Great work…but she cannot deduct that $1,000 as a monetary deduction on her taxes.Īgain, the IRS does not allow you to assign a value to your time for charitable donation purposes.
#Mytime and expenses pro
Example: An attorney gives 5 hours of pro bono work to a nonprofit she supports.Great work…but the individual cannot claim a monetary deduction of $30 for this volunteer service. Normally, the nonprofit would pay a staff person for this service at a rate of $10 per hour. Example: An individual volunteers three hours of her time in the mail room at a nonprofit organization.(The general rule is that you donate cash or items for it to count as a deduction). Volunteers cannot deduct the monetary value of their time volunteering to an organization. No monetary deduction for volunteer time and service. But volunteers may be able to deduct for certain volunteer expenses. The IRS will not allow individuals to deduct the monetary value of their volunteer service to a nonprofit on their individual income tax returns. Can I deduct the value of my volunteer service to a nonprofit?