I provided services to a charitable organization - without charge to them. I want to show the value of these services as a charitable contribution. So, I set up an invoice to record the value.
How do I close this out? Clear the invoice, etc.
Thanks,
Fred
You can record it, but it is not a charitable contribution for tax purposes. See Publication 17, page 164, value of time or services is not deductible.
Bill them standard rates and send them the invoice. Then forgive the debt. Have them send you a letter thanking you for your contribution in the amount of the invoice. As long as their choice of you wasn't contingent on your forgiving the invoice ...
Have something to add? Share your thoughts — no account required.
Ask the community — no account required