Unreimbursed volunteer expenses incurred in rendering services for a domestic charity may be tax deductible. This includes expenses for meals and lodging necessarily incurred while away from home. However, the Tax Court has made it clear that costs totaling more than $249 must be substantiated with a written acknowledgment from the charity. Talk with the organization for which you performed services to determine whether it qualifies (is domestic) and whether your expenses also qualify and can be substantiated.
A statutory term describing the cost used to determine your profit or loss from a sale or exchange of property. It is generally your original cost, increased by capital improvements, and decreased by depreciation, depletion, and other capital write-offs.