donation of property

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  • spanel
    Senior Member
    • Oct 2008
    • 857
    #1

    donation of property

    Client wants to donate a house to a church. (approx $20000) The Church will then give said property to a family in need. Will my client be able to deduct said house? If so, at what value? FMV?

    This property has not been used in a business or depreciated.

    Thanks

    Chris
    Tags: None
    • mactoolsix
      Senior Member
      • Apr 2009
      • 544
      #2
      Yes, FMV - must get an appraisal.

      https://www.irs.gov/publications/p561/ar02.html#d0e1059

        Comment

        • taxea
          Senior Member
          • Nov 2005
          • 4292
          #3
          Originally posted by mactoolsix
          Yes, FMV - must get an appraisal.

          https://www.irs.gov/publications/p561/ar02.html#d0e1059
          and donor cannot name family
          Believe nothing you have not personally researched and verified.

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