This lesson focuses on Part 2 of Substantiating Contributions of Property. You can review the Executive Summary to obtain the key points or read the Weekly Lesson for a more thorough presentation of this topic. Start by completing the following interactive quiz to test your knowledge.
Jon donates a car to his church. He uses a book containing the valuations of used cars to establish that the market value of the car is $8,000. The church treasurer agrees, and issues Jon a receipt for $8,000. Has the treasurer complied with the law?
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 the substantiation ...