Selling a Donated Item
We are thinking of selling the church piano. It was donated to the church over 20 years ago and the member who donated it has since passed away. Is there anything we should know about selling donated items according to the law? How do we record this in the books?
No, there is nothing you need to do as far as IRS reporting with the sale of your church organ. It would be recorded as the sale of a church asset.
Hope this helps.Church Accounting Package www.freechurchaccounting.com