This quiz will test a person's knowledge on recording various types of donations.

The IRS instructions for the IRS Form 1098-C  states the following: "Generally, the charity must furnish this form to you no later than 30 days after the date it sold the donated vehicle (if box 4a is checked) or 30 days after the date of the contribution (if box 5a or 5b is checked)."

A volunteer can't deduct their time and services. However an attorney can ask for a GIK donation statement for things like travel expenses for the attorney to come and meet with your organization. Or say for all the cost of mailings to your organization. In other words the expenses have to be documented and not just a 'service' or 'time'. There are a lot of rules on this that the churches should review before giving out any donation statements to any volunteers.

The IRS Form 1098-C is what you use to for a qualified vehicle over 500.00.

Please review the IRS instructions for the IRS Form 1098-C to see who must file.

According to the IRS instructions for the 1098-C, the donor must figure out the amount for the donated item (ie car, plane, and boat). This is atypical because most gifts in kind (GIK) can be donated without knowing the value. Most GIK's don't require a 30 day reporting period.

According to the IRS website, non cash donations are not to have their value placed on the statement. Another resource is:

IRS Publication 561.

As stated in the IRS publication 1771, the church must send a written acknowledgement (donor statement) to the donor for any one time contribution over $250.00.

The IRS's basic rule is that the gift must be delivered to the church by December 31st. For USPS they use the postmarked date as the delivery date, whether or not the donation envelope is physically delivered to the church.

This question falls under a quid pro quo donation. These are found in the IRS code section 6115.

According to the IRS website donations that equal $250.00 or more need an written acknowledgement.