This week we turn our attention to Part 1 of Substantiating Contributions of Property. Start by completing the following quiz. Then review the Executive Summary for the key points on this topic, or read the Weekly Lesson for a complete discussion of this topic.
Sarah donates a computer to her church having a value of $600. The church treasurer provides Sarah with a letter listing the church's name, the date of the gift, and a brief description of the property. Is this all that Sarah needs to claim a deduction for her contribution? If not, what else would she need?
Instructions Click on the correct answer for each of the following questions.
Charitable contributions must be properly substantiated in order to be deducted on the donor's tax return. Different substantiation rules apply to different kinds of contributions. In this week's lesson we will review ...