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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.

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