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Re: another tax ?. Donating sides of beef


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Posted by Paul in MN on January 10, 2012 at 07:12:49 from (174.20.146.225):

In Reply to: another tax ?. Donating sides of beef posted by Dave from MN on January 09, 2012 at 16:44:55:

I think the real answer here is to determine what organization ran the benefit. If it was run by a church or the local VFW, then you might be able to contact them for a receipt. The key here is whether they have filed the paperwork to be a 501 C3 charitable organization. I am the treasurer of such an organization, and do the annual paperwork to keep the registration alive, so we are listed as a "qualified organization". Many schools, historical societies, PTA organizations, VFWs, and thousands of groups have done this registration and are then qualified to receive donations, and provide receipts that are tax deductable. Sometimes the local bank will set up a charitable fund, and register it for the tax break.

But I too have donated a quarter beef to a needy family, and there was no charitable organization involved, so there was no deduction that I could claim. But I still felt good about helping out a family in our community. Often times we can contact our church, make the donation to the church with a note that it is to go to a specific needy family. We can then get a receipt for the donation from the church, and it is deductable.

Another issue could be if you raised the beef or bought it. If you bought it, then the question about the charitable organization applies. But if you raised it, you might have trouble determining the amount to deduct, as you have probably already deducted the cost of feed, supplements, and vet that went into that steer. Then the question of charitable organization applies.

Whatever the tax outcomes are, you can feel good about you (and your wife's?) contribution to a needy family. Thank you for being a good and giving community member!

Paul in MN


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