I hosted a "summer send-off" for incoming students to a college and received in-kind gift credit for the food, drink & space, which was over $6k. Do I need an appraisal?

I have am itemized receipt from the country club where event was hosted. And what category are these expenses considered?

520

Level 15

Aug 8, 2023 9:42:50 PM

personal - non-deductible. in addition, you were reimbursed with an in-kind credit.