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interest charitable gifts are subject to strict guidelines which
provide assurance that the charitable deductions to be allowed
reflect the approximate amount to be received by charity. See
sec. 25.2522(c)-3(d)(2)(iv), Gift Tax Regs.
In addition to the above statutorily qualified forms of
deductible partial interests transferred to charity, section
170(f)(3)(B) sets forth a number of other types of partial
interest gifts with respect to which charitable deductions are
allowable. Under section 170(f)(3)(B), charitable deductions are
allowed for gifts not in trust of remainder interests in a
personal residence or farm (sec. 170(f)(3)(B)(i)), gifts to
charity not in trust of an “undivided portion” of a transferor’s
entire interest in property (sec. 170(f)(3)(B)(ii)), and
qualified conservation contributions (sec. 170(f)(3)(B)(iii)).
With regard to charitable gifts of an undivided portion of a
transferor’s entire interest in property, section 25.2522(c)-
3(c)(2)(i), Gift Tax Regs., provides, in part, as follows:
An undivided portion of a donor’s entire interest in
property must consist of a fraction or percentage of
each and every substantial interest or right owned by
the donor in such property * * *.2 * * *
2 Parallel provisions for income and estate tax purposes
with regard to deductions relating to charitable gifts of an
undivided portion of a taxpayer’s entire interest in property are
set forth in sec. 1.170A-7(b)(1)(i), Income Tax Regs., and sec.
20.2055-2(e)(2)(i), Estate Tax Regs.
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