Lucy M. Wiggins - Page 10




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               3.   Charitable Contributions                                          
               Section 170(a) allows as a deduction a charitable                      
          contribution which is made within the taxable year.  As relevant            
          here, a charitable contribution means a contribution or gift to             
          or for the use of an organization organized and operated                    
          exclusively for religious, charitable, scientific, literary, or             
          educational purposes.  Sec. 170(c)(2)(B).  If a taxpayer makes a            
          charitable contribution of money the taxpayer shall maintain for            
          each contribution either a cancelled check, a receipt or letter             
          from the donee charitable organization, or other reliable written           
          records showing the name of the donee, the date of the                      
          contribution, and the amount of the contribution.  Cavalaris v.             
          Commissioner, T.C. Memo. 1996-308; sec. 1.170A-13(a)(1), Income             
          Tax Regs.  The reliability of a written record is to be                     
          determined on the basis of all the facts and circumstances of a             
          particular case.  Sec. 1.170A-13(a)(2)(i), Income Tax Regs.                 
          Factors indicating that a written record is reliable include the            
          contemporaneous nature of the writing and the regularity of the             
          taxpayer’s recordkeeping procedure.  Sec. 1.170A-13(a)(2)(i)(A)             
          and (B), Income Tax Regs.                                                   
               If the contribution is made in property other than money,              
          the amount of the contribution is generally the fair market value           
          of the property at the time of the contribution.  Sec. 1.170A-              
          1(c)(1), Income Tax Regs.  The taxpayer must also maintain a                






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Last modified: May 25, 2011