Question: Form 1023 Number 11

Hello! In the process of completing my 1023. Part VIII asks if we will accept contributions of real property. The start up package says to check "no" here. However, we hold an auction in which we accept contributions. Wouldn't this be "real property"? The 1023 instructions give no guidance. Thanks!

Asked by eaglesnestps



Advice from PTO Today

Craig writes:
It's OK to answer no. "Real property" refers (in a broad sense) to real estate.

Community Advice

big5 writes:
I agree with Craig. This is what our CPA told us as well.

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