As always, please consult your tax preparer for professional advice for your individual tax situation. The tax law for grain donations is very complex and there are specific criteria that must be met.
A representative from the charity will open an account with the elevator in anticipation of the grain donation. Please contact us in advance so that an account can be established prior to delivery.
The farmer must deliver grain to the elevator or currently hold grain in their name to provide proof of production. (Please note that contracted grain sales will not be accepted as a grain donation.)
The farmer must transfer ownership title of the commodity to the charity.
The charity must make the final decision to sell the grain.