The IRS finally published the latest 526 on 2/29/2024. However, there's a little new to report.
There's some new language regarding conservation contributions and deduction disallowances under certain pass-through transactions.
Although it has been introduced previously (the following became effective 1/1/2023), 526 now mentions the one-time, lifetime $50,000 QCD distribution to fund a CRAT, CRUT, or CGA. But we knew that :-).
The IRS has yet to release a new 561 (Determining the Value of Donated Property) for 2023 tax filing. I will continue to check.
John
John H. Taylor, PrincipalJohn H. Taylor Consulting, LLC
2604 Sevier Street
Durham, NC 27705
919.816.5903 (cell/text)
Serving the Advancement Community Since 1987