Learn how to correctly enter an in-kind donation so that the donor's tax-deductible amount is correct.
To manually enter an in-kind donation first navigate to the "Actions +" button.
Next, select the "Donation Made" option from the "Type of Donation" drop-down and enter $0 in the "Amount" field.
Enter the item description in the Note field (a Prefix can be used to easily access this information in Reports). Blueprints allow you to standardize this entry. Plus, Campaigns can be used to differentiate from financial donations.
In the "Fair Market Value Field" enter the FMV of the item in a negative value.
For example:
$0 donation amount value and a $-200 Fair Market Value = $200 tax deductible amount.
If you want to include Tax deductible amounts then it will be accurate when using our "Donation Total Tax Deductible" and "Transaction Total Tax Deductible" columns in your constituent-based reports.
The tax-deductible amounts will also be accurate when using the various "Email Marketing Calculated Fields" found in "Settings" when used with your Mailchimp, or Constant Contact integration as a merge field when sending tax-based email communications.
Please follow your legal guidelines for tax receipts from the IRS: https://www.irs.gov/charities-non-profits/charitable-organizations/charitable-contributions-written-acknowledgments