Personal Finance (Not Investing) • Increase in cash donations (currency)

Guys - I'm filing personal returns before the extension deadline next month.  It turns out my w-2 jumped 70% last year as my company landed a very large customer deal that I worked on and thus landed up donating more too, especially with cash donations (actual currency). In the past few returns, I can see my cash donation has hovered between 3.5-4% of AGI. I do all my taxes myself now, but I do remember a tax advisor in the past said that any big jump in increase of ACTUAL cash donations irrespective of your earnings that year can trigger an audit. I am calculating 4.4% for this year but compared to last year my actual cash donations have jumped 40% for 2023. Although I have records of everything, I certainly do not want to trigger an audit. Is the statement from my advisor above in bold accurate?

Thanks

Statistics: Posted by logat2 — Wed Sep 18, 2024 1:34 pm — Replies 6 — Views 258

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