Tax Valuation Guide for Donated GoodsTax Valuation Guide for Donated Goodsdoi:urn:uuid:e08c6934972c4310VgnVCM100000d7c1a8c0RCRDIt's your job, not the charity's, to report the value of the donation to the Internal Revenue Service.Kay BellFox...
EXECUTIVE SUMMARY * Artworks are often donated for a charitable deduction for income tax purposes or valued as a gift or part of a taxable estate. CPAs need to make sure that clients have obtained a qualified appraisal of a fair market value that can be successfully defended in a return ...
the Court relied on what it regarded as the “plain meaning” of the statute. The text applies the penalty to tax underpayments attributable to overstatements of “value . . . (or the adjusted basis)” of property. Finding that the parentheses did not diminish or narrow the import of the...