Should I report the noncash contributions sold by my organization's hired third parties in Schedule M?
2.1k views |
Last modified 3/23/2021 9:06:50 AM EST |
Added by ExpressTaxExempt Team
If your organization hired or used a third party or any related organizations to solicit, process, or sell any noncash contributions received, then it is necessary to report them in Schedule M by answering "Yes" to line 32a, Part I, Types of Property and must describe these arrangements in Part II, Supplemental Information.
However, if the third party mentioned is a broker who sells publicly traded securities that are gifts received by the organization, then there's no need to mention them. You can answer as "No" in line 32a, Part I of Schedule M.