Questions and Answers!
A collection of questions and answers compiled from various sources. Got a question? Got an answer? Share them with your fellow workers!
Can you count going on mission trip on your personal tax return?
Publication 526 states:
You can claim a charitable contribution deduction for travel expenses necessarily incurred while you are away from home performing services for a charitable organization only if there is no significant element of personal pleasure, recreation, or vacation in such travel.  This applies whether you pay the expenses directly or indirectly.  You are paying the expenses indirectly if you make a payment to the charitable organization and the organization pays for your travel expenses.
Set value is the day the stock is given is the value used to calculate the total gift. 
The day the stock is transferred into the church's name is the day and value for that day that is credited to donor and also used in the donation letter.
Typically, it takes at least 3 days for stock to settle once the transfer is done.  The net proceeds received is what the church should get credited.  Most of the time there will be a difference in value from the day given to the day settled.  The gain or loss is absorbed by the church, NOT the donor.
 The donor can only receive credit for the year it is given. 

Last Published: November 23, 2005 4:26 PM
Empowered by Extend, a church software solution from