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Author’s Note xi
About the Author xiii
Book Citations xv
PART ONE INTRODUCTION TO THE TAX LAW OF CHARITABLE GIVING 1
Chapter One Charitable Giving Law: Basic Concepts 3
1.4 Statistical Profile of Charitable Sector 3
Chapter Two The United States Tax System: An Overview 5
2.4 Concept of Adjusted Gross Income 5
2.6 Standard Deduction 5
2.7 Concept of Taxable Income 6
2.15 Taxation of Income 6
PART TWO BASICS OF CHARITABLE GIVING LAW 9
Chapter Three Fundamental Concepts 11
3.1 Meaning of Gift 11
3.3 Meaning of Charitable Organization 15
3.4 Public Charities and Private Foundations 15
3.6 Factors Affecting Income Tax Deductibility of Charitable Gifts 15
3.6A Charitable Organizations Listing Reliance Rules (New) 16
Chapter Four Gifts of Money and Property 19
4.3 Gifts of Long-Term Capital Gain Property in General 19
4.5 Certain Gifts of Capital Gain Property 19
4.6 Gifts of Property for Unrelated Use 19
PART THREE CHARITABLE GIVING IN GENERAL 21
Chapter FSiivxe Timing of Charitable Deductions 23
6.15 Gifts by S Corporations 23
Chapter Seven Percentage Limitations 25
7.4 Percentage Limitations: An Overview 25
7.19 Corporations’ Net Operating Loss Carryovers and Carrybacks 25
Chapter Eight Estate and Gift Tax Considerations 27
8.2 Federal Gift Tax 27
8.3 Federal Estate Tax 28
8.4 Unification of Taxes 29
8.4A Estate and Gift Tax Regime (New) 29
8.7 Remainder Interests 30
Chapter Nine Special Gift Situations 31
9.3 Inventory 31
9.5 Computer Technology or Equipment 32
9.7 Conservation Property 32
9.10 Retirement Plan Accounts 38
9.12 Donors’ Creations 38
9.15 Unreimbursed Expenses 38
9.17 Automobile Expenses 40
9.19 Bargain Sales 40
9.22 Contributions by Trusts 41
9.31 Public Policy Considerations 41
Chapter Ten Other Aspects of Deductible Giving 45
10.1 Valuation of Property 45
10.4 Conditional Gifts 46
10.9 Deductible Gifts to Noncharitable Organizations 48
10.14 Penalties 50
PART FOUR PLANNED GIVING 55
Chapter Eleven Valuation of Partial Interests 57
11.3 General Actuarial Valuations 57
Chapter Twelve Charitable Remainder Trusts 59
12.1 Definitions 59
12.2 Charitable Remainder Annuity Trust Rules 59
12.4 Issues 60
12.7 Early Terminations of Charitable Remainder Trusts 60
12.8 Taxation of Charitable Remainder Trusts 60
12.9 Mandatory Provisions 61
12.10 Private Foundation Rules 61
Chapter Thirteen Pooled Income Funds 63
13.5 Mandatory Provisions 63
13.6 Private Foundation Rules 63
13.8 Tax Status of Fund and Beneficiaries 63
Chapter FSioifxuttereeteennen Charitable Lead Trusts 65
16.2 Income Interest 65
16.5 Testamentary Use of Charitable Lead Trusts 65
PCAhRaTptFerIVSEeveINnTteEeRnNATIONAL CHARITABLE GIVING 67
Chapter Eighteen International Giving by Individuals during Lifetime 69
18.2 Background 69
18.5 Summary 69
PCAhRaTptSerIXTNwinAeenDtetMyeInNISTRATION OF CHARITABLE GIVING PROGRAMS 71
Chapter Twenty-One Substantiation and Appraisal Requirements 73
21.2 Substantiation Requirements for Gifts of Money 73
21.3 Substantiation Requirements for Gifts of $250 or More 73
21.4 Substantiation Requirements for Noncash Gifts 75
21.5 Appraisal Requirements 75
21.6 Appraisals and Penalties 78
21.8 Burden of Proof Rules 79
Chapter Twenty-Two Disclosure Requirements 81
22.2 Quid Pro Quo Contribution Rules 81
Chapter Twenty-Three Special Events, Corporate Sponsorships, and Donor-Advised Funds 83
23.4 Donor-Advised Funds 83
Chapter Twenty-Four Reporting Requirements 89
24.13 Split-Interest Trust Filing Requirements 89
PART SEVEN APPENDICES 91
Appendix E Inflation-Adjusted Insubstantiality Threshold—$50 Test 93
Appendix F Inflation-Adjusted Insubstantiality Threshold—$25 Test 95
Appendix G Inflation-Adjusted Low-Cost Article Definition 97
Appendix H Monthly Federal Interest Rates Used in Valuing Partial Interests (IRC § 7520) 99
Appendix I Deemed Rates of Return for Transfers to New Pooled Income Funds 107
TABLES
Cumulative Table of Cases 109
Cumulative Table of IRS Revenue Rulings and Revenue Procedures 121
Cumulative Table of IRS Private Determinations Cited in Text 125
Cumulative Table of IRS Private Letter Rulings, Technical Advice Memoranda, and General Counsel Memoranda 129
Cumulative Table of Cases Discussed in Bruce R. Hopkins’ Nonprofit Counsel 141
Cumulative Table of IRS Revenue Rulings Discussed in Bruce R. Hopkins’ Nonprofit Counsel 145
Cumulative Table of Private Letter Rulings and Technical Advice Memoranda Discussed in Bruce R. Hopkins’ Nonprofit Counsel 147
Cumulative Index 149
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