Gifts of Property

by Pisces
(North CArolina)

How do we handle gifts of property to the church such as car, boat, house?


Answer

There are special IRS requirements for contributions of autos, boats, and airplanes.

There are also special requirements for donated property over $5000.

These requirements are too detailed to go into here as they include special instructions on what to do if you sell the property or if you keep it.

You can look up these instructions on the IRS website or you can just purchase my ebook "Church Contributions" that covers all these requirements:-)



Church Accounting Package

www.freechurchaccounting.com

Know the answer? Face the same situation? Please post your answer or comment by using the "comment" link below. Thank you!

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Church Accounting FAQs.

Need a Consultation, help setting up an effective Accounting System, or someone to do your monthly bookkeeping?