Charitable Contribution of Land - documentation

[BulldogTom]

TP is donating a piece of land to a charity.   FMV of the bare land is approx. 400K.  No buildings or improvements.  Taxpayer held the land for about 15 years.  I know they need the qualified appraisal and the donee and the appraiser must sign form 8283.  

Here is my stupid question - Does the donee have to give an acknowledgment letter with the §170 language on it as well as signing the 8283?   I would think that the signature on the 8283 should suffice.    I don't want to have my E&O policy flapping in the wind if this gets audited because I did not tell him to get the statement.

Thanks

Tom
Modesto, CA

[jklcpa]

Yes, the client needs the written acknowledgement as well as the appraisal and signatures. I found this in pub 526 in the section for record documentation to keep:
 

Quote

 

Deductions Over $5,000

If you claim a deduction of over $5,000 for a noncash charitable contribution of one item or a group of  similar items, you must have the acknowledgment and the written records described under “Deductions Over $500 but Not Over $5,000.”   Generally, you must also obtain a qualified written appraisal of the donated property from a qualified appraiser.