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The business hosting our annual fund raising dinner in its auditorium wants to deduct the rental value as a charitable contribution. Is it appropriate to do so?
No. Taxpayers are not permitted to take a charitable contribution deduction for gifts of services, and the IRS considers free use of space or equipment to be a service. The business may deduct out of pocket expenses incurred in connection with the event, but not the value of the space.
Rev. 9/21/2009
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