The Tax Law of Charitable Giving. Bruce R. Hopkins

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Название The Tax Law of Charitable Giving
Автор произведения Bruce R. Hopkins
Жанр Личностный рост
Серия
Издательство Личностный рост
Год выпуска 0
isbn 9781119756026



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       In the case of charitable and veterans' organizations, contributions to which are deductible for federal income tax purposes,559 activities relating to the distribution of low-cost articles if the distribution of the articles is incidental to the solicitation of charitable contributions.560

       In the case of charitable and veterans' organizations, contributions to which are deductible for federal income tax purposes, any trade or business consisting of (1) exchanging, with another of these organizations, names and addresses of donors to or members of the organization or (2) renting the names and addresses to another of these organizations.561

      Statutory law does not provide criteria for determining whether a tax-exempt organization has more than one unrelated business or how to identify separate unrelated businesses for purposes of calculating unrelated business taxable income.

      Several factors affect the deductibility of charitable gifts:

       The transaction must be a gift.571

       The person claiming a charitable deduction for the gift must actually be the donor.572

       The recipient of the gift must be a charitable organization.573

       The nature of the donor.574

       The charitable organization must accept the money or other property that was the subject of the ostensible gift.575

       When the donor is an individual, whether the donor itemizes deductions.576

       The year of the gift.

       The subject of the gift, whether money or property.

       If the gift is of property, the nature of the property that is contributed, such as:Long-term capital gain property.Short-term capital gain property.Ordinary income property.Inventory.

       If the gift is of property, whether the donor legally owns it.577

       If the gift is of property, the value of the property contributed.578

       The public charity/private foundation status of the charitable recipient.579

       The nature of the recipient if it is an organization other than a public charitable organization or a private foundation.

       The use to which the contributed property is put, such as unrelated use of tangible personal property580 or specific charitable uses (for example, there are rules concerning gifts of inventory).581

       The nature of the interest in the money or property contributed; that is, whether the gift is of an outright interest or a partial interest.582

       Whether a business expense deduction has been allowed for the property that is the subject of the gift.583

       Compliance with the recordkeeping, reporting, substantiation, and appraisal laws.584

       Adherence to the charitable organizations listing reliance rules.585