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Author: 5000fingers Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Re: donating rental to charity Date: 1/7/2007 3:03 PM
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The most consistent way for tax law to treat this transaction would be to impute $2,000 in income to you (even though you didn't receive it), and then give you credit for a $2,000 charitable contribution.

I don't understand. Why would I report $2,000 of income that I did not receive? And why wouldn't I be able to write off the contribution? I received nothing, and donated something worth $2,000 to a charity. Why would it be any different than, say, donating $2,000 of exercise gear to my local Good Will thrift store?

How is it "double dipping" to say that I donated something to a charity, and reporting its true value as the amount of the contribution?
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