| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 1311.1 | | ICS::CHIASSON | | Mon Jul 16 1990 15:30 | 7 |
| I donated my quarter horse to a riding for the handicapped school
and he was considered a tax deduction.
The school had all the tax information and I had my parents accountant
figure it out for me.
Kris
|
| 1311.2 | The recipient determines write-off-ability | CURIE::GCOOK | Save the Skeets | Tue Jul 17 1990 09:46 | 9 |
| Whether or not you can use the gift of a horse as a write off depends
upon the recipient. If you were to give your horse to the little girl
next door, she would be happy but you couldn't write it off. A good
guideline is, if a gift of cash would be tax deductible (because it
was to a non-profit organization) then the gift of a horse will also
be deductible.
gwen
|
| 1311.4 | re last | BRAT::MATTHEWS | days and loves things u cant buy | Thu Jul 19 1990 21:28 | 9 |
| I have often thought of the same thing!
wendy o'
(who could that would know for sure?)
|
| 1311.5 | The key word is....... | BOOVX2::MANDILE | | Fri Jul 20 1990 10:25 | 3 |
| "Non-Profit Organization" is the key to a tax deduction....
L-
|
| 1311.6 | Well, in that case... | CARTUN::MISTOVICH | | Fri Jul 20 1990 10:33 | 3 |
| Sounds like my entire life should qualify!
Mary
|
| 1311.7 | Sorry, no matching funds | REGENT::WIMBERG | | Mon Jul 23 1990 12:41 | 20 |
|
Digital's Matching Gift Fund does not apply in these case because its
covers cash and securitys only. I know, I donated my horse to Mount
Holyoke College and I checked.
The receiving organization must not only be a non-profit organization,
it must agree to keep the horse for two years. This is to keep the
receiver from accepting the horse than selling it immediately for a
profit (sometimes back to the donators). If you donate to Mount Holyoke
or the Handicapped Riding Program they will have the neccessary
information for completing your taxes.
Nancy
PS - You will need a written evaluation of your horse by a professional
if you plan to claim more than $5000 dollars. I had my evaluated
at just over $5000 but I only claim her value at $4500 to avoid
have to have additional paper work for the IRS.
|