[Finance] Rent as a charitable donation

[Jeff Cotten]

*Synopsis:*  Rent is not a tax-deductible benefit when donated to a 501c3
charity.

Thank you to MrFranceIsBacon from Makers Local 256 who brought this to our
attention.
One of the ideas that Makers Local (Huntsville, AL) had when we started was
to attain 501c3 charity status,
and then convince local building owners to let us set up there rent-free,
while they wrote the Fair Market Value (FMV) off
as a charitable donation on their taxes.

There are tax laws preventing this, it is considered Partial Interest in
Property.

Ref:  Page 9, Example 1:  http://www.irs.gov/pub/irs-pdf/p526.pdf


I've added an entry on the wiki about this here:
http://hackerspaces.org/wiki/Finances#Tax_Laws


Omegix
Makers Local 256
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