Lake Martin Topics: Tax Question??

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	Name:	water_watcher -
	Subject:	Tax Question??
	Date:	12/23/2008 7:33:03 AM

Just so you know, under $500 you do not need any support or documentation. So you can safely take a $500 deduction. If the value is higher you need an appraisal ... you can't just develop a value on your own and get someone to sign. The appraisal has to be based on market value and what a willing buyer would have paid. If you know someone in the real estate business, they can probably give you something official that estimates the value, then get the fire dept to sign that they accepted your donantion for training purposes. The difficult part is if you kept the land. Although the building has its own value.

The IRS rarely audits a return based on charitable contributions unless they are extremely excessive compared to your income.

Other messages in this thread:

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Tax Question?? - LakeStone83 - 12/22/2008 2:44:15 PM

Tax Question?? - lakeplumber - 12/22/2008 3:28:50 PM

First of all, next time you... - Blue Creeker - 12/22/2008 4:36:19 PM

Tax Question?? - water_watcher - 12/22/2008 7:06:14 PM

Tax Question?? - GoneFishin - 12/23/2008 12:07:19 AM

Tax Question?? - Talullahhound - 12/23/2008 7:26:17 AM

Tax Question?? - Maverick - 12/23/2008 7:18:10 PM

I agree with Mav - Ulysses E. McGill - 12/24/2008 12:10:41 AM

Tax Question?? - water_watcher - 12/23/2008 7:33:03 AM

Tax Question?? - mcintpa - 12/23/2008 10:29:31 AM

Tax Question?? - Talullahhound - 12/23/2008 7:05:02 PM

Tax Question?? - Swimmer27 - 12/24/2008 8:39:34 AM

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