Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Tax Experts My client wants to donate one of his rental

Customer Question
Tax ExpertsMy client wants to...
Tax ExpertsMy client wants to donate one of his rental houses to his church. Do we need appraisal? How do we claim donation on the tax return?
Submitted: 5 months ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 13 minutes by:
12/12/2017
Tax Professional: Lev, Tax Advisor replied 5 months ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 32,843
Experience: Taxes, Immigration, Labor Relations
Verified

Usually, you make a contribution at the time of its unconditional delivery.

You can deduct your contributions only in the year you actually make them or in a later carryover year, when the deduction limit is applied.

Ask Your Own Tax Question
Tax Professional: Lev, Tax Advisor replied 5 months ago

If you claim a deduction of over $5,000 for a noncash charitable contribution of one item or a group of similar items, you must have the acknowledgment and the written records AND you must also obtain a qualified written appraisal of the donated property from a qualified appraiser.

Generally a licensed real estate appraiser will be considered as a "qualified appraiser" for that purpose.

Report your charitable contributions on lines 16 through 19 of Schedule A (Form 1040) and fill out Section B of Form 8283.

The organization that received the property must complete and sign Part IV of Section B.

Questions?

Ask Your Own Tax Question
Was this answer helpful?
Ask Lev Your Own Question
Lev
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 32,843
32,843 Satisfied Customers
Experience: Taxes, Immigration, Labor Relations

Lev is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,495 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,272 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
Filed form 1040 form took the standard deduction, I am now
filed form 1040 form took the standard deduction, I am now filing the new york state, … read more
Lev
Lev
Tax Advisor
32,843 satisfied customers
Do you offer assistance with Form 1040-ES? These are
these are estimated quarterly taxes for this year 2018 … read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
On form 1040, line 27, what is the deductible part of the
On form 1040, line 27, what is the deductible part of the self-employment tax requiring schedule SE?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,117 satisfied customers
Is there a donation amount limit for tax deduction when you
Is there a donation amount limit for tax deduction when you donate money to missionary organization?… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
Is there a cap on charitable contributions beginning in
Is there a cap on charitable contributions beginning in 2018? I give a lot to dog rescue organizations which has helped me not have to pay taxes at the end of the year and, at the same time, helping t… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,205 satisfied customers
Tax question: If I filed form 1040 online and it was
Tax question: If I filed form 1040 online and it was accepted and afterwards I filed form 4868 and it says accepted, does this extend the FBAR? Please provide IRS references. Thanks! Jonathan Wyman, C… read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,117 satisfied customers
Can airfare be deducted for a schedule e rental property if
Can airfare be deducted for a schedule e rental property if it was to go and perform maintenance on the property? If so where on schedule e should it be deducted?… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Tax Question: IRS Form 1040, 4562 maybe tax professional For
Tax Question: IRS Form 1040, 4562 maybe tax professional For a barbershop. Would all these expenses be considered leasehold improvements or can they be expensed on schedule CThe contractors were the s… read more
Carter McBride
Carter McBride
LLM
1,050 satisfied customers
Can I deduct charitable contributions I made to a 501 (c)(3)
Can I deduct charitable contributions I made to a 501 (c)(3) that I run? … read more
PhillipsEsq.
PhillipsEsq.
Attorney-at-Law
JD
59 satisfied customers
I am claiming charitable contributions on some clothing. The
I am claiming charitable contributions on some clothing. The individual clothing items are not over $500; and the whole group is not over $5000. According to what I am reading, I have to list the date… read more
Lev
Lev
Tax Advisor
32,843 satisfied customers
On the 1040A form how can i deduct state property tax (
on the 1040A form how can i deduct state property tax (Washington State)? … read more
James Daloisio
James Daloisio
Attorney
Doctoral Degree
217 satisfied customers
Outgoing VP asked us to make a charitable contribution
Outgoing VP asked us to make a charitable contribution instead of a thankyou gift for her years of service. We sent $25 to her charity of choice. Review of the by-laws indicate we probably should not … read more
Lev
Lev
Tax Advisor
32,843 satisfied customers
I want to ask a question about Income tax return form 1040..
Hello I want to ask a question about Income tax return form 1040.. I want to fill form but My wife doesnt have any ssn number. She is housewife and she has no income. Which option should I choose from… read more
James Daloisio
James Daloisio
Attorney
Doctoral Degree
217 satisfied customers
Can a deduction be taken as a donation if you donate a
Can a deduction be taken as a donation if you donate a handmade wooden library file cabinet to a historic Cemetery, i.e. Oakland & Fraternal Historic Cemetery, Little Rock, Arkansas … read more
Lev
Lev
Tax Advisor
32,843 satisfied customers
I forgot to include my schedule SE form 1040 when I efiled
I forgot to include my schedule SE form 1040 when I efiled my taxes. Do I need to file and amended return? … read more
abci168
abci168
Principal
27 satisfied customers
I want form 1040 along with schedule A for years 2016 and
I want form 1040 along with schedule A for years 2016 and 2017 - NOTB eFile, just the old fashion forms that I complete with a pen,p. … read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,117 satisfied customers
I know I can only deduct charitable contributions equal or
I know I can only deduct charitable contributions equal or less to 50% of my AGI. I also know that I can carry forward excess contributions. My question is, can I carry BACK excess contributions? I al… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
How to handle a deduction for a charitable contribution for
How to handle a deduction for a charitable contribution for art given by the artist or creator of that piece of artwork? This refers to the "materials only" or cost of materials only caveat to the ded… read more
Lev
Lev
Tax Advisor
32,843 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x