Quid Pro Quo? Actually, IRS Cares Too

The IRS cares about quid pro quos too. You cannot write off a charitable contribution if it wasn’t really a donation. If a developer 'donates' a city park in exchange for the rights to build a skyscraper, was that really a charitable contribution of the park land to the city? Not hardly. Via Forbes - Real Estate https://ift.tt/RB3zJO