September 17, 2009

Noncash Giving Rose 14%, Says IRS

By Grant Williams

Americans reported making donations of $46.8-billion in noncash gifts in 2006, a 14-percent increase over the previous year, according to a new report from the Internal Revenue Service.

The figure covers gifts from taxpayers who said they made more than $500 worth of noncash gifts in the year.

The increase occurred even though the number of tax returns indicating noncash donations declined by 6 percent, from 6.6 million in 2005 to 6.2 million in 2006.

The biggest share

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