Which of the following statements is not true regarding documentation requirements for charitable contributions? a. If the

Question:

Which of the following statements is not true regarding documentation requirements for charitable contributions?

a. If the total deduction for all noncash contributions for the year is more than $500, Section A of Form 8283, Noncash Charitable Contributions, must be completed.

b. A noncash contribution of less than $250 must be supported by a receipt or other written acknowledgement from the charitable organization.

c. A contribution charged to a credit card is a noncash contribution for purposes of documentation requirements.

d. A deduction of more than $5,000 for one property item generally requires that a written appraisal be obtained and attached to the return.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Fundamentals Of Taxation 2018

ISBN: 9781259713736

11th Edition

Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler

Question Posted: