Q:

How long do you need to keep a receipt for a nonprofit donation?

A:

Quick Answer

Taxpayers need to keep receipts for nonprofit donations for three years after the tax return due date, or the date of filing their tax return, whichever occurs later, according to Forbes. Taxpayers who report less than 75 percent of their gross income should keep receipts for six years or more.

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Full Answer

Taxpayers who do not file returns or who file fraudulent returns should keep their receipts indefinitely, according to the Internal Revenue Service. If taxpayers claim credits or refunds after filing their returns, they should keep their records for three years from the date they originally filed their returns, or two years from the date they paid the tax, whichever is later. For property donations, taxpayers should keep the receipts until the statute of limitations expires for the year in which the taxpayers donated the property.

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