[grc] Fundraising Q--can a 501(c)3 nonprofit station offer in-kind deduction to "talent"?

[Ken Freedman]

The IRS no longer allows the value of donated services to be deducted from
the taxable income of the person or company donating those services.

The person or entity donating those services can, however, deduct expenses
they incurred in donating those services, but not the value of the service
itself.

Table 1 on page 2 of this document has a rundown:

https://www.irs.gov/pub/irs-pdf/p526.pdf

-Ken Freedman



~~~~~~~~~~
Audience Engine / WFMU
PO Box 2011
Jersey City, NJ 07303-2011

Contact Methods Ranked Best to Worst:

ken at audienceengine.net
ken at wfmu.org

@WFMU

http://wfmu.org

(201) 521-1416 ext 225
~~~~~~~~~~~



On Tue, Dec 5, 2017 at 5:27 PM, rdawson--- via grc <grc at maillist.peak.org>
wrote:

>
>
> re: Q....Can station offer  fundraising "talent" documentation of an
> 'in-kind" contribution showing their value of their performance?
>
> GANG:  KXCR (90.7) Florence Ore would like to attract some 'talent' to
> town for fundraising.
>
> The station is a 501(c)3---MAY IT OFFER THE OUT-OF-TOWN TALENT THE
> 'VALUE' OF THEIR PARTICIPATION IN A FUNDRAISING EVENT...AS A PERSONAL
> DEDUCTIBLE 'CONTRIBUTION' TO THE STATION?
>
> In other words....can the station say the fair value of their gig was
> xx$dollars...and provide them a receipt for 'in-kind' contribution?
> Which the talent then uses to document their charitable deduction?
>
> rAND DAWSON....supporter of KXCR   rd:  541-997-3950
> rdawson at oregonfast.net
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