Donations in kind after death (not in the will)

Tax Topics
1

Furniture donation by executor, just over $1,000 FMV. Not in the will. Can it be reported on the initial GRE T3 or carried back to Final T1?

2

Yes.

“GRE donations are donations by a GRE to a qualified donee. The donated property must be property that was acquired by the estate on and as a consequence of the death (or property that was substituted for such property).
…
You can allocate a GRE donation among any of the following:
*the taxation year of the estate in which the donation is made;
*an earlier taxation year of the GRE;
*the last 2 taxation years of the deceased individual (the final return and the return for the preceding year).”

3

Thanks. I missed the “made during the year of death” part.

| jglass
May 27 |

  • | - |

Yes.
“GRE donations are donations by a GRE to a qualified donee. The donated property must be property that was acquired by the estate on and as a consequence of the death (or property that was substituted for such property).
…
You can allocate a GRE donation among any of the following:
*the taxation year of the estate in which the donation is made;
*an earlier taxation year of the GRE;
*the last 2 taxation years of the deceased individual (the final return and the return for the preceding year).”

canada.ca

Preparing Returns for Deceased Persons 2021 - Canada.caUse this guide if you are the legal representative who has to file an income tax and benefit return for a deceased person.

TaxTips.ca

TaxTips.ca - Donations made in the year of death or bequeathed in the wilTaxTips.ca - Donations made in the year of death, bequeathed in the will, or directly transferred to a qualified donee as the beneficiary of an RRSP, RRIF, TFSA, or life insurance policy

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