FundSvcs Community

In a word, yes. Your receipt must reflect all this and also state if it is a QCD or RMD when you know that. The tax treatments are different. QCDs cannot have any benefits. John Taylor 919.816.5903 johntaylorconsulting@gmail.com Big ideas; small keyboard > On Aug 20, 2019, at 12:26 PM, Heidi L. Howard <HHoward@samhealth.org> wrote: > > We have a donor that recently made a donation to us and questioned what kind of receipt he’d get from us. I let him know that until I had the check in hand and called the organization (if necessary) I couldn’t give him an answer. > > I received the check, called the organization that the check came from (TD Ameritrade) and they confirmed that it was a tax-deductible gift. The check stated nothing about it being from the donor’s IRA and TD Ameritrade said nothing about it either. > > We now have the donor coming back to us with a copy of a receipt from another donation he made to another organization where they stated in his receipt that it was a gift from his IRA and that he intended this gift to be a nontaxable Qualified Charitable Distribution. It then goes on to tell him to keep the receipt for his tax records and that no goods or services were received. Is this something we should be stating on a receipt? I’m now being told that I need to send him a new receipt that states it is a gift from his IRA. I said I would call Ameritrade back and confirm that it is, in fact, from his IRA, but would I really need to put that on his receipt? > > Heidi Howard, bCRE-Pro, bCRP > Annual Giving/Database Administrator > Samaritan Foundations > P: 541.768.5547 > C: 503.580.0670 > > > > Confidentiality Notice: This e-mail message, including any attachments, is > for the sole use of the intended recipient(s) and may contain confidential > and privileged information. Any unauthorized review, use, disclosure or > distribution is prohibited. If you are not the intended recipient, please > contact the sender by reply e-mail and destroy all copies of the original > message.

Stating it is a QCD is sufficient. You are not a tax specialist and do not want to provide tax advice. I am not sure what your last question pertains to. QCDs and RMDs pertain only to descriptions of forms of IRA distributions if that is what you mean. But as for other payment types - especially when it comes to property including securities and cryptocurrency - descriptive language is also necessary. John John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Tue, Aug 20, 2019 at 12:43 PM Heidi L. Howard <HHoward@samhealth.org> wrote: > Would I need to state that his gift was a nontaxable QCD? Or just a QCD? > And is this only in the cases of IRA gifts? > > > > *From:* Advancement Services Discussion List < > FUNDSVCS@LISTSERV.FUNDSVCS.ORG> *On Behalf Of *John Taylor > *Sent:* Tuesday, August 20, 2019 9:40 AM > *To:* FUNDSVCS@LISTSERV.FUNDSVCS.ORG > *Subject:* Re: [FUNDSVCS] Comparison from one receipt to another org's > receipt--IRA donation > > > > > > > > WARNING: This email originated from outside of SHS. DO NOT CLICK ANY LINKS OR OPEN ATTACHMENTS unless you recognize the sender and know the contents are safe. > > > > > In a word, yes. Your receipt must reflect all this and also state if it > is a QCD or RMD when you know that. The tax treatments are different. > QCDs cannot have any benefits. > > John Taylor > > 919.816.5903 > > johntaylorconsulting@gmail.com > > > > Big ideas; small keyboard > > > On Aug 20, 2019, at 12:26 PM, Heidi L. Howard <HHoward@samhealth.org> > wrote: > > We have a donor that recently made a donation to us and questioned what > kind of receipt he’d get from us. I let him know that until I had the check > in hand and called the organization (if necessary) I couldn’t give him an > answer. > > > > I received the check, called the organization that the check came from (TD > Ameritrade) and they confirmed that it was a tax-deductible gift. The check > stated nothing about it being from the donor’s IRA and TD Ameritrade said > nothing about it either. > > > > We now have the donor coming back to us with a copy of a receipt from > another donation he made to another organization where they stated in his > receipt that it was a gift from his IRA and that he intended this gift to > be a nontaxable Qualified Charitable Distribution. It then goes on to tell > him to keep the receipt for his tax records and that no goods or services > were received. Is this something we should be stating on a receipt? I’m now > being told that I need to send him a new receipt that states it is a gift > from his IRA. I said I would call Ameritrade back and confirm that it is, > in fact, from his IRA, but would I really need to put that on his receipt? > > > > *Heidi Howard, bCRE-Pro, bCRP* > > Annual Giving/Database Administrator > > Samaritan Foundations > > P: 541.768.5547 > > C: 503.580.0670 > > > > > ------------------------------ > > > Confidentiality Notice: This e-mail message, including any attachments, is > for the sole use of the intended recipient(s) and may contain confidential > and privileged information. Any unauthorized review, use, disclosure or > distribution is prohibited. If you are not the intended recipient, please > contact the sender by reply e-mail and destroy all copies of the original > message. > > > > > > > Click here <https://mailsecure.samhealth.org:9449/pem/pages/digestProcess/digestProcess.jsf?content=41ae761a454f225b937af7b507dc836bae1740d2dd96ddba20b386d14977c8347d3ead764c2f4eaae5b5d1d911f5b462535dba2eaaac10dd3112b5f2dec356e52cda3bb14b633c9809d12f8e2e00aa7182a1dfffbd6536da8978e6ee08093c4e3b900359a661f08399563ce129a50bc49f84a198a7ccbf0c6da597bf975a848fdf0c8076233cafd4c9ddf0bc6493fbd7> to report this email as spam > > > > >

NO!!!!!!!!!!!!!! (I wanted to get your attention!) The receipt must state the amount and that it was a QCD. As well as the no good or services stuff. The donor must still report this in their tax return - just not in the same way or place. The only donations you do not place values on are property gifts. If you check the archives you will find that some organizations say a lot more on these receipts. I will include an example below. I never have and have never been questioned. I prefer to just issue a standard gift receipt making sure it's clear that the gift was a QCD. This is from an earlier post: *We acknowledge that we received your gift directly from your plan trustee/administrator and that it is your intention for all of your gift to qualify as a charitable distribution from your IRA. We warrant that Lawrence University is a qualified organization under the Internal Revenue Code Section 170(b)(1)(A) and that your gift was not transferred to either a donor advised fund or a supporting organization. **No goods or services of any value were or will be transferred to you in connection with this gift. Please retain this letter with your tax documents and provide a copy to your tax preparer.* John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Tue, Aug 20, 2019 at 1:11 PM Heidi L. Howard <HHoward@samhealth.org> wrote: > So then because it’s not a tax-deductible gift do you do a $0 receipt > amount but state the amount of the check? > > > > Sorry, this is new to us, we’ve never receipted these differently. (It > honestly may just be the first one we’ve received.) I’m a little irked that > the donor didn’t send us a copy of the check stub that could’ve alerted us > that this was an IRA gift to begin with. > > > > > > *Heidi Howard, bCRE-Pro, bCRP* > > Annual Giving/Database Administrator > > Samaritan Foundations > > P: 541.768.5547 > > C: 503.580.0670 > > > > > > *From:* Advancement Services Discussion List < > FUNDSVCS@LISTSERV.FUNDSVCS.ORG> *On Behalf Of *John Taylor > *Sent:* Tuesday, August 20, 2019 10:07 AM > *To:* FUNDSVCS@LISTSERV.FUNDSVCS.ORG > *Subject:* Re: [FUNDSVCS] Comparison from one receipt to another org's > receipt--IRA donation > > > > > > > > WARNING: This email originated from outside of SHS. DO NOT CLICK ANY LINKS OR OPEN ATTACHMENTS unless you recognize the sender and know the contents are safe. > > > > > > Stating it is a QCD is sufficient. You are not a tax specialist and do > not want to provide tax advice. > > > > I am not sure what your last question pertains to. QCDs and RMDs pertain > only to descriptions of forms of IRA distributions if that is what you > mean. But as for other payment types - especially when it comes to > property including securities and cryptocurrency - descriptive language is > also necessary. > > > > John > > > > John H. Taylor > > Principal, John H. Taylor Consulting > > 2604 Sevier St. > > Durham, NC 27705 > > johntaylorconsulting@gmail.com > > 919.816.5903 (cell/text) > > > > Serving the Advancement Community Since 1987 > > > > > > On Tue, Aug 20, 2019 at 12:43 PM Heidi L. Howard <HHoward@samhealth.org> > wrote: > > Would I need to state that his gift was a nontaxable QCD? Or just a QCD? > And is this only in the cases of IRA gifts? > > > > *From:* Advancement Services Discussion List < > FUNDSVCS@LISTSERV.FUNDSVCS.ORG> *On Behalf Of *John Taylor > *Sent:* Tuesday, August 20, 2019 9:40 AM > *To:* FUNDSVCS@LISTSERV.FUNDSVCS.ORG > *Subject:* Re: [FUNDSVCS] Comparison from one receipt to another org's > receipt--IRA donation > > > > > > > > WARNING: This email originated from outside of SHS. DO NOT CLICK ANY LINKS OR OPEN ATTACHMENTS unless you recognize the sender and know the contents are safe. > > > > > In a word, yes. Your receipt must reflect all this and also state if it > is a QCD or RMD when you know that. The tax treatments are different. > QCDs cannot have any benefits. > > John Taylor > > 919.816.5903 > > johntaylorconsulting@gmail.com > > > > Big ideas; small keyboard > > > On Aug 20, 2019, at 12:26 PM, Heidi L. Howard <HHoward@samhealth.org> > wrote: > > We have a donor that recently made a donation to us and questioned what > kind of receipt he’d get from us. I let him know that until I had the check > in hand and called the organization (if necessary) I couldn’t give him an > answer. > > > > I received the check, called the organization that the check came from (TD > Ameritrade) and they confirmed that it was a tax-deductible gift. The check > stated nothing about it being from the donor’s IRA and TD Ameritrade said > nothing about it either. > > > > We now have the donor coming back to us with a copy of a receipt from > another donation he made to another organization where they stated in his > receipt that it was a gift from his IRA and that he intended this gift to > be a nontaxable Qualified Charitable Distribution. It then goes on to tell > him to keep the receipt for his tax records and that no goods or services > were received. Is this something we should be stating on a receipt? I’m now > being told that I need to send him a new receipt that states it is a gift > from his IRA. I said I would call Ameritrade back and confirm that it is, > in fact, from his IRA, but would I really need to put that on his receipt? > > > > *Heidi Howard, bCRE-Pro, bCRP* > > Annual Giving/Database Administrator > > Samaritan Foundations > > P: 541.768.5547 > > C: 503.580.0670 > > > > > ------------------------------ > > > Confidentiality Notice: This e-mail message, including any attachments, is > for the sole use of the intended recipient(s) and may contain confidential > and privileged information. Any unauthorized review, use, disclosure or > distribution is prohibited. If you are not the intended recipient, please > contact the sender by reply e-mail and destroy all copies of the original > message. > > > > > > > Click here <https://mailsecure.samhealth.org:9449/pem/pages/digestProcess/digestProcess.jsf?content=41ae761a454f225b937af7b507dc836bae1740d2dd96ddba20b386d14977c8347d3ead764c2f4eaae5b5d1d911f5b462535dba2eaaac10dd3112b5f2dec356e52cda3bb14b633c9809d12f8e2e00aa7182a1dfffbd6536da8978e6ee08093c4e3b900359a661f08399563ce129a50bc49f84a198a7ccbf0c6da597bf975a848fdf0c8076233cafd4c9ddf0bc6493fbd7> to report this email as spam > > > > > > > > > > > Click here <https://mailsecure.samhealth.org:9449/pem/pages/digestProcess/digestProcess.jsf?content=41ae761a454f225b813982ddaf930a0b6cc6a02c33b3e95f47d925ef5a666c4a7d3ead764c2f4eaae5b5d1d911f5b462535dba2eaaac10dd3112b5f2dec356e52cda3bb14b633c9809d12f8e2e00aa7182a1dfffbd6536da8978e6ee08093c4e3b900359a661f08399563ce129a50bc49f84a198a7ccbf0c6da597bf975a848fdf0c8076233cafd4c9ddf0bc6493fbd7> to report this email as spam > > > > >

😁 John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Tue, Aug 20, 2019 at 1:19 PM Heidi L. Howard <HHoward@samhealth.org> wrote: > Thank you so much, John. You always have an answer!! > > > > You deserve a day off and some homemade cookies! > > > > *Heidi Howard, bCRE-Pro, bCRP* > > Annual Giving/Database Administrator > > Samaritan Foundations > > P: 541.768.5547 > > C: 503.580.0670 > > > > > > > > *From:* Advancement Services Discussion List < > FUNDSVCS@LISTSERV.FUNDSVCS.ORG> *On Behalf Of *John Taylor > *Sent:* Tuesday, August 20, 2019 10:17 AM > *To:* FUNDSVCS@LISTSERV.FUNDSVCS.ORG > *Subject:* Re: [FUNDSVCS] Comparison from one receipt to another org's > receipt--IRA donation > > > > > > > > WARNING: This email originated from outside of SHS. DO NOT CLICK ANY LINKS OR OPEN ATTACHMENTS unless you recognize the sender and know the contents are safe. > > > > > > NO!!!!!!!!!!!!!! > > > > (I wanted to get your attention!) > > > > The receipt must state the amount and that it was a QCD. As well as the > no good or services stuff. The donor must still report this in their tax > return - just not in the same way or place. The only donations you do not > place values on are property gifts. > > > > If you check the archives you will find that some organizations say a lot > more on these receipts. I will include an example below. I never have and > have never been questioned. I prefer to just issue a standard gift receipt > making sure it's clear that the gift was a QCD. > > > > This is from an earlier post: > > > > *We acknowledge that we received your gift directly from your plan > trustee/administrator and that it is your intention for all of your gift to > qualify as a charitable distribution from your IRA. We warrant that > Lawrence University is a qualified organization under the Internal Revenue > Code Section 170(b)(1)(A) and that your gift was not transferred to either > a donor advised fund or a supporting organization. No goods or services of > any value were or will be transferred to you in connection with this > gift. Please retain this letter with your tax documents and provide a copy > to your tax preparer.* > > > > John H. Taylor > > Principal, John H. Taylor Consulting > > 2604 Sevier St. > > Durham, NC 27705 > > johntaylorconsulting@gmail.com > > 919.816.5903 (cell/text) > > > > Serving the Advancement Community Since 1987 > > > > > > On Tue, Aug 20, 2019 at 1:11 PM Heidi L. Howard <HHoward@samhealth.org> > wrote: > > So then because it’s not a tax-deductible gift do you do a $0 receipt > amount but state the amount of the check? > > > > Sorry, this is new to us, we’ve never receipted these differently. (It > honestly may just be the first one we’ve received.) I’m a little irked that > the donor didn’t send us a copy of the check stub that could’ve alerted us > that this was an IRA gift to begin with. > > > > > > *Heidi Howard, bCRE-Pro, bCRP* > > Annual Giving/Database Administrator > > Samaritan Foundations > > P: 541.768.5547 > > C: 503.580.0670 > > > > > > *From:* Advancement Services Discussion List < > FUNDSVCS@LISTSERV.FUNDSVCS.ORG> *On Behalf Of *John Taylor > *Sent:* Tuesday, August 20, 2019 10:07 AM > *To:* FUNDSVCS@LISTSERV.FUNDSVCS.ORG > *Subject:* Re: [FUNDSVCS] Comparison from one receipt to another org's > receipt--IRA donation > > > > > > > > WARNING: This email originated from outside of SHS. DO NOT CLICK ANY LINKS OR OPEN ATTACHMENTS unless you recognize the sender and know the contents are safe. > > > > > > Stating it is a QCD is sufficient. You are not a tax specialist and do > not want to provide tax advice. > > > > I am not sure what your last question pertains to. QCDs and RMDs pertain > only to descriptions of forms of IRA distributions if that is what you > mean. But as for other payment types - especially when it comes to > property including securities and cryptocurrency - descriptive language is > also necessary. > > > > John > > > > John H. Taylor > > Principal, John H. Taylor Consulting > > 2604 Sevier St. > > Durham, NC 27705 > > johntaylorconsulting@gmail.com > > 919.816.5903 (cell/text) > > > > Serving the Advancement Community Since 1987 > > > > > > On Tue, Aug 20, 2019 at 12:43 PM Heidi L. Howard <HHoward@samhealth.org> > wrote: > > Would I need to state that his gift was a nontaxable QCD? Or just a QCD? > And is this only in the cases of IRA gifts? > > > > *From:* Advancement Services Discussion List < > FUNDSVCS@LISTSERV.FUNDSVCS.ORG> *On Behalf Of *John Taylor > *Sent:* Tuesday, August 20, 2019 9:40 AM > *To:* FUNDSVCS@LISTSERV.FUNDSVCS.ORG > *Subject:* Re: [FUNDSVCS] Comparison from one receipt to another org's > receipt--IRA donation > > > > > > > > WARNING: This email originated from outside of SHS. DO NOT CLICK ANY LINKS OR OPEN ATTACHMENTS unless you recognize the sender and know the contents are safe. > > > > > In a word, yes. Your receipt must reflect all this and also state if it > is a QCD or RMD when you know that. The tax treatments are different. > QCDs cannot have any benefits. > > John Taylor > > 919.816.5903 > > johntaylorconsulting@gmail.com > > > > Big ideas; small keyboard > > > On Aug 20, 2019, at 12:26 PM, Heidi L. Howard <HHoward@samhealth.org> > wrote: > > We have a donor that recently made a donation to us and questioned what > kind of receipt he’d get from us. I let him know that until I had the check > in hand and called the organization (if necessary) I couldn’t give him an > answer. > > > > I received the check, called the organization that the check came from (TD > Ameritrade) and they confirmed that it was a tax-deductible gift. The check > stated nothing about it being from the donor’s IRA and TD Ameritrade said > nothing about it either. > > > > We now have the donor coming back to us with a copy of a receipt from > another donation he made to another organization where they stated in his > receipt that it was a gift from his IRA and that he intended this gift to > be a nontaxable Qualified Charitable Distribution. It then goes on to tell > him to keep the receipt for his tax records and that no goods or services > were received. Is this something we should be stating on a receipt? I’m now > being told that I need to send him a new receipt that states it is a gift > from his IRA. I said I would call Ameritrade back and confirm that it is, > in fact, from his IRA, but would I really need to put that on his receipt? > > > > *Heidi Howard, bCRE-Pro, bCRP* > > Annual Giving/Database Administrator > > Samaritan Foundations > > P: 541.768.5547 > > C: 503.580.0670 > > > > > ------------------------------ > > > Confidentiality Notice: This e-mail message, including any attachments, is > for the sole use of the intended recipient(s) and may contain confidential > and privileged information. Any unauthorized review, use, disclosure or > distribution is prohibited. If you are not the intended recipient, please > contact the sender by reply e-mail and destroy all copies of the original > message. > > > > > > > Click here <https://mailsecure.samhealth.org:9449/pem/pages/digestProcess/digestProcess.jsf?content=41ae761a454f225b937af7b507dc836bae1740d2dd96ddba20b386d14977c8347d3ead764c2f4eaae5b5d1d911f5b462535dba2eaaac10dd3112b5f2dec356e52cda3bb14b633c9809d12f8e2e00aa7182a1dfffbd6536da8978e6ee08093c4e3b900359a661f08399563ce129a50bc49f84a198a7ccbf0c6da597bf975a848fdf0c8076233cafd4c9ddf0bc6493fbd7> to report this email as spam > > > > > > > > > > > Click here <https://mailsecure.samhealth.org:9449/pem/pages/digestProcess/digestProcess.jsf?content=41ae761a454f225b813982ddaf930a0b6cc6a02c33b3e95f47d925ef5a666c4a7d3ead764c2f4eaae5b5d1d911f5b462535dba2eaaac10dd3112b5f2dec356e52cda3bb14b633c9809d12f8e2e00aa7182a1dfffbd6536da8978e6ee08093c4e3b900359a661f08399563ce129a50bc49f84a198a7ccbf0c6da597bf975a848fdf0c8076233cafd4c9ddf0bc6493fbd7> to report this email as spam > > > > > > > > > > > Click here <https://mailsecure.samhealth.org:9449/pem/pages/digestProcess/digestProcess.jsf?content=41ae761a454f225b9fa05acf4fb67dcb242bdd973a5d0bf6e02b4154b82bce817d3ead764c2f4eaae5b5d1d911f5b462535dba2eaaac10dd3112b5f2dec356e52cda3bb14b633c9809d12f8e2e00aa7182a1dfffbd6536da8978e6ee08093c4e3b900359a661f08399563ce129a50bc49f84a198a7ccbf0c6da597bf975a848fdf0c8076233cafd4c9ddf0bc6493fbd7> to report this email as spam > > > > >

We have a donor that recently made a donation to us and questioned what kind of receipt he'd get from us. I let him know that until I had the check in hand and called the organization (if necessary) I couldn't give him an answer. I received the check, called the organization that the check came from (TD Ameritrade) and they confirmed that it was a tax-deductible gift. The check stated nothing about it being from the donor's IRA and TD Ameritrade said nothing about it either. We now have the donor coming back to us with a copy of a receipt from another donation he made to another organization where they stated in his receipt that it was a gift from his IRA and that he intended this gift to be a nontaxable Qualified Charitable Distribution. It then goes on to tell him to keep the receipt for his tax records and that no goods or services were received. Is this something we should be stating on a receipt? I'm now being told that I need to send him a new receipt that states it is a gift from his IRA. I said I would call Ameritrade back and confirm that it is, in fact, from his IRA, but would I really need to put that on his receipt? Heidi Howard, bCRE-Pro, bCRP Annual Giving/Database Administrator Samaritan Foundations P: 541.768.5547 C: 503.580.0670 ________________________________ Confidentiality Notice: This e-mail message, including any attachments, is for the sole use of the intended recipient(s) and may contain confidential and privileged information. Any unauthorized review, use, disclosure or distribution is prohibited. If you are not the intended recipient, please contact the sender by reply e-mail and destroy all copies of the original message.

Would I need to state that his gift was a nontaxable QCD? Or just a QCD? And is this only in the cases of IRA gifts? From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of John Taylor Sent: Tuesday, August 20, 2019 9:40 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] Comparison from one receipt to another org's receipt--IRA donation WARNING: This email originated from outside of SHS. DO NOT CLICK ANY LINKS OR OPEN ATTACHMENTS unless you recognize the sender and know the contents are safe. In a word, yes. Your receipt must reflect all this and also state if it is a QCD or RMD when you know that. The tax treatments are different. QCDs cannot have any benefits. John Taylor 919.816.5903 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> Big ideas; small keyboard On Aug 20, 2019, at 12:26 PM, Heidi L. Howard <HHoward@samhealth.org<mailto:HHoward@samhealth.org>> wrote: We have a donor that recently made a donation to us and questioned what kind of receipt he’d get from us. I let him know that until I had the check in hand and called the organization (if necessary) I couldn’t give him an answer. I received the check, called the organization that the check came from (TD Ameritrade) and they confirmed that it was a tax-deductible gift. The check stated nothing about it being from the donor’s IRA and TD Ameritrade said nothing about it either. We now have the donor coming back to us with a copy of a receipt from another donation he made to another organization where they stated in his receipt that it was a gift from his IRA and that he intended this gift to be a nontaxable Qualified Charitable Distribution. It then goes on to tell him to keep the receipt for his tax records and that no goods or services were received. Is this something we should be stating on a receipt? I’m now being told that I need to send him a new receipt that states it is a gift from his IRA. I said I would call Ameritrade back and confirm that it is, in fact, from his IRA, but would I really need to put that on his receipt? Heidi Howard, bCRE-Pro, bCRP Annual Giving/Database Administrator Samaritan Foundations P: 541.768.5547 C: 503.580.0670 ________________________________ Confidentiality Notice: This e-mail message, including any attachments, is for the sole use of the intended recipient(s) and may contain confidential and privileged information. Any unauthorized review, use, disclosure or distribution is prohibited. If you are not the intended recipient, please contact the sender by reply e-mail and destroy all copies of the original message. Click here<https://mailsecure.samhealth.org:9449/pem/pages/digestProcess/digestProcess.jsf?content=41ae761a454f225b937af7b507dc836bae1740d2dd96ddba20b386d14977c8347d3ead764c2f4eaae5b5d1d911f5b462535dba2eaaac10dd3112b5f2dec356e52cda3bb14b633c9809d12f8e2e00aa7182a1dfffbd6536da8978e6ee08093c4e3b900359a661f08399563ce129a50bc49f84a198a7ccbf0c6da597bf975a848fdf0c8076233cafd4c9ddf0bc6493fbd7> to report this email as spam

So then because it’s not a tax-deductible gift do you do a $0 receipt amount but state the amount of the check? Sorry, this is new to us, we’ve never receipted these differently. (It honestly may just be the first one we’ve received.) I’m a little irked that the donor didn’t send us a copy of the check stub that could’ve alerted us that this was an IRA gift to begin with. Heidi Howard, bCRE-Pro, bCRP Annual Giving/Database Administrator Samaritan Foundations P: 541.768.5547 C: 503.580.0670 From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of John Taylor Sent: Tuesday, August 20, 2019 10:07 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] Comparison from one receipt to another org's receipt--IRA donation WARNING: This email originated from outside of SHS. DO NOT CLICK ANY LINKS OR OPEN ATTACHMENTS unless you recognize the sender and know the contents are safe. Stating it is a QCD is sufficient. You are not a tax specialist and do not want to provide tax advice. I am not sure what your last question pertains to. QCDs and RMDs pertain only to descriptions of forms of IRA distributions if that is what you mean. But as for other payment types - especially when it comes to property including securities and cryptocurrency - descriptive language is also necessary. John John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Tue, Aug 20, 2019 at 12:43 PM Heidi L. Howard <HHoward@samhealth.org<mailto:HHoward@samhealth.org>> wrote: Would I need to state that his gift was a nontaxable QCD? Or just a QCD? And is this only in the cases of IRA gifts? From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG>> On Behalf Of John Taylor Sent: Tuesday, August 20, 2019 9:40 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG> Subject: Re: [FUNDSVCS] Comparison from one receipt to another org's receipt--IRA donation WARNING: This email originated from outside of SHS. DO NOT CLICK ANY LINKS OR OPEN ATTACHMENTS unless you recognize the sender and know the contents are safe. In a word, yes. Your receipt must reflect all this and also state if it is a QCD or RMD when you know that. The tax treatments are different. QCDs cannot have any benefits. John Taylor 919.816.5903 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> Big ideas; small keyboard On Aug 20, 2019, at 12:26 PM, Heidi L. Howard <HHoward@samhealth.org<mailto:HHoward@samhealth.org>> wrote: We have a donor that recently made a donation to us and questioned what kind of receipt he’d get from us. I let him know that until I had the check in hand and called the organization (if necessary) I couldn’t give him an answer. I received the check, called the organization that the check came from (TD Ameritrade) and they confirmed that it was a tax-deductible gift. The check stated nothing about it being from the donor’s IRA and TD Ameritrade said nothing about it either. We now have the donor coming back to us with a copy of a receipt from another donation he made to another organization where they stated in his receipt that it was a gift from his IRA and that he intended this gift to be a nontaxable Qualified Charitable Distribution. It then goes on to tell him to keep the receipt for his tax records and that no goods or services were received. Is this something we should be stating on a receipt? I’m now being told that I need to send him a new receipt that states it is a gift from his IRA. I said I would call Ameritrade back and confirm that it is, in fact, from his IRA, but would I really need to put that on his receipt? Heidi Howard, bCRE-Pro, bCRP Annual Giving/Database Administrator Samaritan Foundations P: 541.768.5547 C: 503.580.0670 ________________________________ Confidentiality Notice: This e-mail message, including any attachments, is for the sole use of the intended recipient(s) and may contain confidential and privileged information. Any unauthorized review, use, disclosure or distribution is prohibited. If you are not the intended recipient, please contact the sender by reply e-mail and destroy all copies of the original message. 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Thank you so much, John. You always have an answer!! You deserve a day off and some homemade cookies! Heidi Howard, bCRE-Pro, bCRP Annual Giving/Database Administrator Samaritan Foundations P: 541.768.5547 C: 503.580.0670 From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of John Taylor Sent: Tuesday, August 20, 2019 10:17 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] Comparison from one receipt to another org's receipt--IRA donation WARNING: This email originated from outside of SHS. DO NOT CLICK ANY LINKS OR OPEN ATTACHMENTS unless you recognize the sender and know the contents are safe. NO!!!!!!!!!!!!!! (I wanted to get your attention!) The receipt must state the amount and that it was a QCD. As well as the no good or services stuff. The donor must still report this in their tax return - just not in the same way or place. The only donations you do not place values on are property gifts. If you check the archives you will find that some organizations say a lot more on these receipts. I will include an example below. I never have and have never been questioned. I prefer to just issue a standard gift receipt making sure it's clear that the gift was a QCD. This is from an earlier post: We acknowledge that we received your gift directly from your plan trustee/administrator and that it is your intention for all of your gift to qualify as a charitable distribution from your IRA. We warrant that Lawrence University is a qualified organization under the Internal Revenue Code Section 170(b)(1)(A) and that your gift was not transferred to either a donor advised fund or a supporting organization. No goods or services of any value were or will be transferred to you in connection with this gift. Please retain this letter with your tax documents and provide a copy to your tax preparer. John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Tue, Aug 20, 2019 at 1:11 PM Heidi L. Howard <HHoward@samhealth.org<mailto:HHoward@samhealth.org>> wrote: So then because it’s not a tax-deductible gift do you do a $0 receipt amount but state the amount of the check? Sorry, this is new to us, we’ve never receipted these differently. (It honestly may just be the first one we’ve received.) I’m a little irked that the donor didn’t send us a copy of the check stub that could’ve alerted us that this was an IRA gift to begin with. Heidi Howard, bCRE-Pro, bCRP Annual Giving/Database Administrator Samaritan Foundations P: 541.768.5547 C: 503.580.0670 From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG>> On Behalf Of John Taylor Sent: Tuesday, August 20, 2019 10:07 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG> Subject: Re: [FUNDSVCS] Comparison from one receipt to another org's receipt--IRA donation WARNING: This email originated from outside of SHS. DO NOT CLICK ANY LINKS OR OPEN ATTACHMENTS unless you recognize the sender and know the contents are safe. Stating it is a QCD is sufficient. You are not a tax specialist and do not want to provide tax advice. I am not sure what your last question pertains to. QCDs and RMDs pertain only to descriptions of forms of IRA distributions if that is what you mean. But as for other payment types - especially when it comes to property including securities and cryptocurrency - descriptive language is also necessary. John John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Tue, Aug 20, 2019 at 12:43 PM Heidi L. Howard <HHoward@samhealth.org<mailto:HHoward@samhealth.org>> wrote: Would I need to state that his gift was a nontaxable QCD? Or just a QCD? And is this only in the cases of IRA gifts? From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG>> On Behalf Of John Taylor Sent: Tuesday, August 20, 2019 9:40 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG> Subject: Re: [FUNDSVCS] Comparison from one receipt to another org's receipt--IRA donation WARNING: This email originated from outside of SHS. DO NOT CLICK ANY LINKS OR OPEN ATTACHMENTS unless you recognize the sender and know the contents are safe. In a word, yes. Your receipt must reflect all this and also state if it is a QCD or RMD when you know that. The tax treatments are different. QCDs cannot have any benefits. John Taylor 919.816.5903 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> Big ideas; small keyboard On Aug 20, 2019, at 12:26 PM, Heidi L. Howard <HHoward@samhealth.org<mailto:HHoward@samhealth.org>> wrote: We have a donor that recently made a donation to us and questioned what kind of receipt he’d get from us. I let him know that until I had the check in hand and called the organization (if necessary) I couldn’t give him an answer. I received the check, called the organization that the check came from (TD Ameritrade) and they confirmed that it was a tax-deductible gift. The check stated nothing about it being from the donor’s IRA and TD Ameritrade said nothing about it either. We now have the donor coming back to us with a copy of a receipt from another donation he made to another organization where they stated in his receipt that it was a gift from his IRA and that he intended this gift to be a nontaxable Qualified Charitable Distribution. It then goes on to tell him to keep the receipt for his tax records and that no goods or services were received. Is this something we should be stating on a receipt? I’m now being told that I need to send him a new receipt that states it is a gift from his IRA. I said I would call Ameritrade back and confirm that it is, in fact, from his IRA, but would I really need to put that on his receipt? Heidi Howard, bCRE-Pro, bCRP Annual Giving/Database Administrator Samaritan Foundations P: 541.768.5547 C: 503.580.0670 ________________________________ Confidentiality Notice: This e-mail message, including any attachments, is for the sole use of the intended recipient(s) and may contain confidential and privileged information. Any unauthorized review, use, disclosure or distribution is prohibited. If you are not the intended recipient, please contact the sender by reply e-mail and destroy all copies of the original message. 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