I would completely agree in that this falls into the category of related use and the concern about any subsequent impact on the donor’s deductibility is only based on whether or not the item(s) are sold; if sold an 8282 would have to be completed and submitted and if the sale value was substantially lower than the amount the donor claimed the IRS might audit the donor (the IRS isn’t much concerned about items that wear out). The onus is absolutely on the donor to substantiate any value claimed as a deduction for contributions of tangible items – the “donee” organization is only acknowledging having possession of the item(s) when signing the 8283.
This and similar questions are regularly discussed on another listserv, FundSvcs, where all manner of questions related to tax receipting, development operations and similar nuts and bolts associated with donor relations come up on a regular basis. That is just as FYI in case anybody on this list gets such questions on a regular basis. Access to that list and the archives can be found at www.FundSvcs.org.
With best regards,
Amy
NOTE: I’m not a certified tax advisor or attorney.
Amy J. Phillips
Gift Registrar
Smithsonian Institution
1000 Jefferson Drive SW, 4th Floor
Washington, DC 20013-7012
[log in to unmask]
202-633-5072 (Phone)
202-786-2516 (Fax)
Mail to: PO Box 37012, MRC-035
Washington, DC 20560-0035
From: Museum discussion list [mailto:[log in to unmask]] On Behalf Of Marc A Williams
Sent: Wednesday, April 29, 2009 2:36 PM
To: [log in to unmask]
Subject: Re: [MUSEUM-L] Tax Deductions
I am not a tax preparation specialist. However, the key to the question is in the first line: If it is reasonable to expect that donated tangible personal property will be used for a purpose UNRELATED (my emphasis) to the purpose or function of the donee, the donee should check the “yes” box in Part IV.
The donated item clearly IS related to the purpose of the organization, so do not check the box and the rest is moot. Hope this helps.
Marc
American Conservation Consortium, Ltd.
4 Rockville Road
Broad Brook, CT 06016
www.conservator.com
860-386-6058
----- Original Message -----
From: Gwenyth Haney <mailto:[log in to unmask]>
To: [log in to unmask]
Sent: Wednesday, April 29, 2009 12:17 PM
Subject: [MUSEUM-L] Tax Deductions
"Note: If it is reasonable to expect that donated tangible personal property will be used for a purpose unrelated to the purpose or function of the donee, the donee should check the “yes” box in Part IV.
Thanks-
Gwen Haney
Community Collections Manager
Dayton History
=========================================================
Important Subscriber Information:
The Museum-L FAQ file is located at http://www.finalchapter.com/museum-l-faq/ . You may obtain detailed information about the listserv commands by sending a one line e-mail message to [log in to unmask] . The body of the message should read "help" (without the quotes).
If you decide to leave Museum-L, please send a one line e-mail message to [log in to unmask] . The body of the message should read "Signoff Museum-L" (without the quotes).
========================================================= Important Subscriber Information:
The Museum-L FAQ file is located at http://www.finalchapter.com/museum-l-faq/ . You may obtain detailed information about the listserv commands by sending a one line e-mail message to [log in to unmask] . The body of the message should read "help" (without the quotes).
If you decide to leave Museum-L, please send a one line e-mail message to [log in to unmask] . The body of the message should read "Signoff Museum-L" (without the quotes).
|
