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Respondent argues that petitioners are not entitled to
deductions for the carryover4 of charitable contributions from
1990 and 1991 to 1993, 1994, and 1995 because the fair market
values of the contributed property carried over from 1990 and
1991 have not been established. Petitioners claimed as
separately computed passthrough deductions from Omega noncash
charitable contributions of tangible property to CBR of $107,500
and $640,888 for 1990 and 1991, respectively. Because of 50-
percent limitation, petitioners could not deduct all of their
claimed contributions during the 1990 and 1991 tax years.
Because they claimed contribution carryovers from the 1990 and
1991 tax years, these years’ contributions are at issue in this
case.
There is no dispute about whether the property was
contributed to CBR. Instead, the question is whether the values
claimed represent the fair market values of the items
contributed. To establish fair market values for the tangible
property contributed to CBR, petitioners employed Dolan, a
probate referee licensed by the State of California. Dolan
submitted an appraisal report to petitioners. We find, on the
4 Generally, in the case of individuals, deductions for
charitable contributions are limited to 50 percent of adjusted
gross income. See sec. 170(b)(1)(A). Excess contributions may
be carried forward for up to 5 years. Carryover contributions
are deducted after deducting current year contributions. If
there are carryovers from more than 1 prior year, the carryover
from the earlier year is used first. See sec. 170(d)(1).
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