Multiple choice Why should a tax exempt organization provide a written receipt for a donation of goods or property if the organization does not know how much the donation is worth A donor cannot deduct the value of a charitable contribution worth $250 or more without a written acknowledgment from the organization The donor is responsible for determining the fair market value of goods or property donated A charitable organization must disclose the fair market value of goods or property provided in exchange for a charitable contribution of more than $75 A charitable organization must notify donors that deductions are limited to the excess of the value of a contribution over the fair market value of goods and services provided by the organization A donor is responsible for determining the fair market value of goods or property donated

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Question: Multiple choice. Why should a tax-exempt organization provide a written receipt for a donation of goods or property if the organization does not know how

Multiple choice. Why should a tax-exempt organization provide a written receipt for a donation of goods or property if the organization does not know how much the donation is worth?

A donor cannot deduct the value of a charitable contribution worth $250 or more without a written acknowledgment from the organization. The donor is responsible for determining the fair market value of goods or property donated.
A charitable organization must disclose the fair market value of goods or property provided in exchange for a charitable contribution of more than $75.
A charitable organization must notify donors that deductions are limited to the excess of the value of a contribution over the fair market value of goods and services provided by the organization.
A donor is responsible for determining the fair market value of goods or property donated.

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