Sailboat-Donation | fiducieiahv

Sailboat Donation at Face value

Full appraisal value is your donation receipt elligible for a Tax credit in Canada or a USA Deduction on you tax return

The income tax treaty between the Canada and U.S. allows U.S. citizens/residents to claim charitable donations to Canadian organizations as a deduction on the U.S. tax return. However, these contributions must still abide by U.S. tax laws and the percentage limits imposed by them . Further, the donation must offset Canadian source income. Therefore, if you are filing a U.S. tax return without any Canadian source income, the Canadian charitable donation will not be eligible for a deduction in that particular year.