Original Message:
Re: Does Donate For A Cause Really Care About Helping Charities Or Just Making Profits? (by Rob M.):
Hello I have a condo that I am considering donating. I have contacted DFAC and actually had an appraisal done for $300 to verify the value of the property. I won't say how much, but let's say the property is valued at $10000. I am interested solely for the tax deduction. I am told that the property will be deeded in DFAC's name and I will be able to claim the $10000 for tax purposes. My question is what if the property resells for $5000? Will I still be able to claim the $10000 that was given to me on the appraisal. I know the IRS has changed rules for donating cars, where the actual sale price, not the appraised value is what can be claimed for tax purposes.
Thank you