Digital tax preparation provider TaxACT has released the new donation-tracking Donation Assistant app, available for Android and iOS.
Helping taxpayers track their non-cash and cash donations while maximizing their deductions at tax time, the app automatically organizes and tracks the information taxpayers need for reporting and enables them to view detailed summaries from their mobile device.
The app also helps taxpayers substantiate their donations as the IRS recommends, allowing users to save photos of donations and receipts taken with their mobile device. Additionally, Donation Assistant provides fair market values for more than 1,300 commonly donated items to help users report accurate amounts for thrift store donations with minimum risk. The app also tracks recurring gifts.
During tax time, data from the app can be transferred to TaxACT Deluxe 2014 for tax returns due April 2015, which will automatically transfer to the program’s Donation Assistant tool, calculating deduction amounts and completing Schedule A and Form 8283.
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