Personal Property
Your personal property gift will allow you to deduct the item’s value. Personal property gifts could range from paintings, land, antique cars, and other collectibles. Upon receipt of your donation, we will issue you a donation letter for tax purposes.
“The federal tax code allows individuals and businesses to make non-cash contributions to qualifying charities and to claim deductions for these contributions on their tax returns. Gifts of donated property, clothing, and other non-cash items have long been an essential revenue source for many charitable organizations and a popular deduction for taxpayers.
The American Jobs Creation Act of 2004 created additional reporting requirements for individual taxpayers making non-cash charitable contributions. This website provides information for contributors, philanthropic organizations, and tax professionals who represent them about federal tax requirements for donated property.” IRS Personal Property Information
Publication 561 (Rev. February 2020) (irs.gov)
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5600 Brainerd Road Suite WS-3, Chattanooga, TN, USA 37411
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