itemized Deductions Individuals 8-35 EXAMPLE 1:8-39 During the current year, Peter Smith (SSN. 123-45-6789) reports AGI of $250,000. Smith also makes the following charitable contributions during the year: Smith performs voluntary dental work three days each month in rural areas of the state. Smith drives a total of 4,000 miles on these trips during the year. Smith makes the following contributions by cash or check: 3750 to the city library. $2,000 to the United Way, $500 to a local community college, and $4,000 to his church. Smith contributes a tract of land to a small rural town. The town plans to erect a public library on the site. Smith purchased the land in 1997 for $5,000. Its appraised value at the time of the contribution is $8,000 Smith's contributions are reported on the partially completed Schedule A shown in Figure 1:8-1. The out-of-pocket expenses of $560 (4,000 milesx $0.14) and the contributions by cash or check of $7.250 (library. United Way, church, and community college) are totaled and reported on line 11. The property contribution of $8,000 is separately stated on line 12. Because Smith contributes property with a value exceeding 5500, Form 8283, an ap- praisal summary, and signed statements by the qualified appraiser and an authorized of ficial of the organization that received the property must be attached to the retum. In addition, for the donations that separately exceed $250, Peter must obtain and retain written acknowledgments from the donee organizations in order for the contributions to be deductible itemized Deductions Individuals 8-35 EXAMPLE 1:8-39 During the current year, Peter Smith (SSN. 123-45-6789) reports AGI of $250,000. Smith also makes the following charitable contributions during the year: Smith performs voluntary dental work three days each month in rural areas of the state. Smith drives a total of 4,000 miles on these trips during the year. Smith makes the following contributions by cash or check: 3750 to the city library. $2,000 to the United Way, $500 to a local community college, and $4,000 to his church. Smith contributes a tract of land to a small rural town. The town plans to erect a public library on the site. Smith purchased the land in 1997 for $5,000. Its appraised value at the time of the contribution is $8,000 Smith's contributions are reported on the partially completed Schedule A shown in Figure 1:8-1. The out-of-pocket expenses of $560 (4,000 milesx $0.14) and the contributions by cash or check of $7.250 (library. United Way, church, and community college) are totaled and reported on line 11. The property contribution of $8,000 is separately stated on line 12. Because Smith contributes property with a value exceeding 5500, Form 8283, an ap- praisal summary, and signed statements by the qualified appraiser and an authorized of ficial of the organization that received the property must be attached to the retum. In addition, for the donations that separately exceed $250, Peter must obtain and retain written acknowledgments from the donee organizations in order for the contributions to be deductible
