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3. Donate to Charity – You can deduct cash and property donations but you must keep impeccable records on all items. For example: in case you donate over $5000.00 inside a non-cash property, you have to have it appraised written for fair monatary amount. If you donate over $500.00 in non-cash items, you have to use Form 8283. You also must be capable of itemize each item donated.
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