[TheThinkTank] Accounting for sales of donated bikes

Martin, Eric Vance evmartin at indiana.edu
Sat May 23 07:33:38 PDT 2015


Clarification: I don't mean anything to do with sales taxes, which we pay on everything we sell. I mean, is this effectively a (cash) donation? Would it be evidence of public support for the IRS?



> On May 23, 2015, at 10:17 AM, Martin, Eric Vance <evmartin at indiana.edu> wrote:
> 
> People give us bikes, and we sell them. This is our main income.
> 
> Should we be treating this/reporting this as related business income or as a donation (realized FMV of an in-kind donation)? What do you guys do? 
> 
> We have a fiscal agent. Let's say the answer does not affect their public support test. 
> 
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