by craig
(Lead hill AR USA)
Our church was donated land and the donor wants a receipt for tax deduction. Is this legal and if so what must the receipt contain?
1Comments
Receipting Land Donation
BBill OConnell
You should receipt the donation according to IRS Publication 561.
This pub is designed to help donors and appraisers determine the value of property (other than cash) that is given to qualified organizations, and information you must have to support the charitable contribution deduction you claim on your return.
Pub 561 is available on the IRS website.
The donor will likely need an independent appraisal.
This pub is designed to help donors and appraisers determine the value of property (other than cash) that is given to qualified organizations, and information you must have to support the charitable contribution deduction you claim on your return.
Pub 561 is available on the IRS website.
The donor will likely need an independent appraisal.