In March, client gives $150 to a charity and does not get an acknowledgement letter. In October he gives $400 and gets an ascknowledgement letter. My associate and I disagee. Is he okay, or does he need to go back to the charity for a letter regarding the $150 gift?
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I found an article that indicates that each contribution is considered separately when determining the documentation rules. So no letter is required for the $150 donation, but a letter is requred for each separate donation that is $250 or greater.
Of course, this article is just one author's interpretation of the rules, would be curious to see what others think... -
Multiple charitable donations over $250.00 total
TTB 4-20, left column. Note the second line at the top; of the column in italics.Friends double; family triple. Don't buy an audit for yourself. If someone has to go to jail make sure it is the client. Remember it is only taxes, nothing important.Comment
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Thanks
For a change, I was correct!Comment
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