IRS Regulation regarding value of Computer kept upon leaving?

by Jim McKeever
(Denver, CO)

We are a very small church, trying to codify our Accountable Reimbursement Plan.

When our pastor is reassigned, we want to give the option for them to retain any computer equipment that may have been purchased by the church for his use.

I have seen information about the Fair Market Value and adding that to taxable income, but I haven't been able to find the actual section of the IRS code that addresses this. Can you help?

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 AR Plan.



Need training on how to use QBO or Aplos effectively for a church or better yet ...need an expert in either of those accounting software to do your monthly bookkeeping and/or payroll? See more on our accounting services!