I'm looking for a confirmation on how to handle receipting for a recurring gift with a premium that crosses a calendar year.
Here's the scenario:
Question: Should the tax deductible amount of the 2nd installment of the recurring contribution (in January 2021) be $50 or $25? Or, put another way, should the $25 of FMV that is not "used" to negate tax deductibility for 2020 get passed over to 2021 or not?
I'm pretty sure I know the answer, but would love to make sure we're doing what would be commonly expected.
Thanks for the help!
Belinda Rawlins (she/her/hers) Senior Product Manager everyaction.com