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ProSeries TaxExperience: 20 years
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It was given to the charity and they sold it for $35,000 +/-
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Yes, it was given to a 501(c)(3). I agree about the Hud-1. It wasn't a sale, just a transfer. & I'm not sure how they arrived at the value. It wasn't the sellin...
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I have a similar situation. Fully depreciated rental property purchased in 1972 was donated. Purchase price of asset was $30,992. Hud-1 to recipient shows "gift...
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I would not consider this a deductible expense. Especially since Clergy should (often don't) receive a W-2 (with $0.00 SS & Medicare wages). As an employee work...
