How do I go about donating a building to tax exempt church?

Answer by  Platypus (180)

With any transfer of real property you should hire an attorney. If you don't want to do that use a quit claim deed.

Answer by  Att4372 (1704)

First, get a professional appraisal of the building to establish fair market value (FMV). Next, transfer the property and get a letter from the church stating what, if any, financial value you received back (example, rent-free use of the property.) You claim a donation (FMV less value received) on schedule A. Appraisal and legal fees add to your donation value.

Answer by  Chaneygirl (1755)

Get an appraisal done, attach to your return if over $500,000. Church should sign for 8283 for you to claim donation.

Answer by  hightide (131)

Hire an attorney to assist you. Furthermore, get a receipt from the church stating the fair value of that building so you can deduct that amount on your tax return.

Answer by  bert (16)

It is best to get a third party to do the appraisal of the property. Make sure that the church is qualified as tax exempt.