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Form 4626 for Moreno Valley California: What You Should Know

It is also not required to file Form 990+ or Form 990EZ.  Organized religion tax preference — Church tax preference. Under section 170(h)(1) of the Internal Revenue Code[1], an organization may exclude from its tax-exempt status the value of certain kinds of property donated for the benefit of the organization. (emphasis added) For example, the value of property such as real estate, churches, chapels, and schools will generally be excluded from the taxable income of a 501(c)(3) organization. In some cases, however, the property cannot be excluded from any tax-exempt organization. The property must be donated to the organization to be included in gross receipts by the organization. Thus, if a church were to build facilities for charitable works and use the building as a place of worship, the church's taxable income from the property would be excluded from the organization's tax-exempt income. For more information on donating real property through a church, see Guide 905-Q: Use of Charitable Organization Property for Church Use, and Guide 905-Q: Use of Charitable Organization Property for Personal Use, published by the United States Department of the Treasury. Organized religion tax preference — Charitable organization. Under section 1504 of the Internal Revenue Code[2], [3], a church organization in any State, the District of Columbia, a territory or possession of the United States, or under the authority of the District of Columbia (other than a religious organization such as a church or other religious denomination) may exclude a share or amounts of gross receipts from the sale of property to be used in the conduct of the church's exempt activities from its gross receipts. For example, if a church organization in any State is engaged in a charitable activity (such as providing education) and sells property to be used on a regular basis in the conduct of the activity, the church will generally be able to treat the property sold to be used in the conduct of the activity as if it were a donation and exclude the fair market value of the property from gross receipts. Generally, the share or amounts that are excluded from gross receipts depend on the use of the property. The amount that is excluded from gross receipts may include any item or service relating to the exempt activities.

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