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September 14

Article Archives >> Ready Reference >> Supplement 1

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Charities Must Set Value on ‘Quid Pro Quo’ Gifts

Donors may deduct only the amount of the payment in excess of the value of the goods or services received

Excerpt:
The burden of valuing goods or services received in return for a quid pro quo contribution is squarely on the charity. The charity must make a "good faith estimate" of the value, and the donor may deduct only the amount of the contribution in excess of that value. Don’t consider it an idle exercise.

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Article Archives >> Ready Reference >> Supplement 1



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