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Confirm your major gift commitment to support Olive Crest\'s Transforming Lives Campaign in Riverside. Help transform lives of children and families in crisis.
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What is gift confirmation?
Gift confirmation is a process where the donor of a gift formally records the details of the gift for tax reporting purposes, ensuring compliance with tax regulations.
Who is required to file gift confirmation?
Individuals who give gifts that exceed the annual exclusion amount set by the IRS are required to file a gift confirmation.
How to fill out gift confirmation?
To fill out gift confirmation, provide the donor's information, details of the recipient, and the value of the gift, along with any applicable forms such as IRS Form 709.
What is the purpose of gift confirmation?
The purpose of gift confirmation is to document the transfer of gifts for tax purposes and ensure that both the donor and recipient comply with IRS regulations.
What information must be reported on gift confirmation?
Information that must be reported includes the names and addresses of both the donor and recipient, the description and value of the gift, and the date of the gift.
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