Myer B. Barr and Estate of Diana L. Barr - Page 12

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          return.  Respondent allowed $14,224 of the charitable                       
          contributions other than by cash or check.  If a taxpayer claims            
          a deduction for a charitable contribution of property other than            
          money, the amount of the contribution is the fair market value of           
          the property at the time of the contribution reduced as provided            
          in section 170 and the regulations promulgated thereunder.  Sec.            
          1.170A-1(c)(1), Income Tax Regs.  The fair market value is the              
          price at which the property would change hands between a willing            
          buyer and a willing seller, neither being under any compulsion to           
          buy or sell and both having reasonable knowledge of relevant                
          facts.  Sec. 1.170A-1(c)(2), Income Tax Regs.                               
               In light of some confusion at trial and on brief, and to               
          remedy certain computational errors in the stipulation of facts,            
          we set forth the allowable contributions other than by cash or              
          check below.  Respondent allowed the following amounts for                  
          noncash charitable contributions:                                           
                                             Claimed      Allowed                     
               Morse Geriatric1              $1,342    $413                           
               New Eyes for the Needy        585       100                            
               Hadassah Bargain Spot         1,426     507                            
               Animal Rescue League          1,526     -0-                            
               Science Museum                250       -0-                            
               Lions SightFirst              90        -0-                            
               Municipal Library             450       64                             
               Jewish Federation             12,581        12,581                     
               JCC Thrift Store              1,783     507                            
               Brandeis University          105           52                          
                                       $20,138       $14,224                         
               1We note that the full name of this institution is the                 
          Nearly New Thrift Shop of the Morse Geriatric Center and is                 
          therefore represented twice in the stipulation of facts.                    

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