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ramon-m
Level 1

Is a domain name donation without appraisal deductible?

Last year, I donated a domain name to a nonprofit in Florida for use as their main website (not to sell). The amount agreed on was $7,500 and I received a letter from the nonprofit's CEO detailing the terms. How do I enter this info into my taxes and would the IRS accept this as a tax deductible donation?
1 Reply
MinhT
Expert Alumni

Is a domain name donation without appraisal deductible?

You'll need a qualified appraisal to deduct a non-cash donation of more than $5,000. The recipient of the donation cannot agree on the valuation of the donated property.

The appraisal must be arranged for and paid for by the donor—the nonprofit cannot help pay for it in any way. Moreover, the donor can't deduct appraisal fees as part of the charitable contribution.

Please read this IRS document for more information:

https://www.irs.gov/taxtopics/tc506.html



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