David W. Chiu - Page 19

                                                - 19 -                                                   

            claimed on his Federal income tax returns for prior years.  We                               
            accordingly disregard the $2,568 figure in deciding the amount of                            
            any charitable deduction to which petitioner may be entitled.                                
                  Section 170(a)(1) provides that a charitable deduction is                              
            allowed "only if verified under regulations prescribed by the                                
            Secretary."  For contributions by cash or check, the regulations                             
            require the taxpayer maintain for each contribution one of the                               
            following: (i) a canceled check, (ii) a receipt, letter or other                             
            communication from the donee, showing the name of the donee, the                             
            date of the contribution and the amount of the contribution, or                              
            (iii) other reliable written records showing the name of the                                 
            donee, the date of the contribution, and the amount of the                                   
            contribution.  Sec. 1.170A-13(a), Income Tax Regs.  Petitioner                               
            did not produce any evidence, beyond his vague and incomplete                                
            testimony, to substantiate the $2,132 for claimed contributions                              
            of money.  Accordingly, he has failed to substantiate the claimed                            
            money contribution and is not entitled to a deduction therefor.                              
                  For contributions of property other than money, the                                    
            regulations require that the taxpayer maintain a receipt from the                            
            donee showing the name of the donee, the date and location of the                            
            contribution, and a description of the contributed property in                               
            sufficient detail based upon the circumstances.  Sec. 1.170A-                                
            13(b)(1), Income tax Regs.  The receipts submitted after trial by                            
            petitioner to substantiate the $436 for claimed contributions are                            





Page:  Previous  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  24  25  26  Next

Last modified: May 25, 2011