Tax Facts

8063 / What verification is required to substantiate a deduction for a charitable contribution of $500,000 or more?

For property contributions for which a deduction of more than $500,000 is claimed, the individual, partnership, or corporation must attach the qualified appraisal of the property to the tax return for the taxable year.1

1.IRC §§ 170(f)(11)(D), 170(f)(11)(E).

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