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.
Step by Step Answer:
Fundamentals Of Taxation 2018
ISBN: 9781259713736
11th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler