Key point. Charitable contributions are subject to several substantiation requirements. A failure to comply with these requirements may lead to a denial of a charitable contribution deduction.
The United States Tax Court ruled that a taxpayer was not entitled to a charitable contribution deduction for the donation of property to a religious charity since he failed to comply with the strict substantiation requirements set forth in the tax code.
A taxpayer made several donations to a religious charity, including a conference center. To determine the center’s value, he contracted with a certified general appraiser for his help.
After viewing the property, however, the appraiser felt uncomfortable providing an appraised value. He believed the property was a very elaborate complex, and he had never seen a similar building in his appraisal career. He felt he couldn’t complete ...