About the Author ix

Preface xi

Book Citations xiii

PART ONE INTRODUCTION TO THE TAX LAW OF CHARITABLE GIVING

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 Concepts of Taxable Income 5

* 2.15 Taxation of Income 6

PART TWO BASICS OF CHARITABLE GIVING LAW

Chapter Three Fundamental Concepts 11

* 3.1 Meaning of Gift 11

3.3 Meaning of Charitable Organization 14

* 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) 15

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

Chapter Six Timing of Charitable Deductions 23

* 6.15 Gifts by S Corporations 23

Chapter Eight Estate and Gift Tax Considerations 25

* 8.2 Federal Gift Tax 25

* 8.3 Federal Estate Tax 26

* 8.4 Unification of Taxes 27

* 8.4A Estate and Gift Tax Regime (New) 27

8.7 Remainder Interests 28

Chapter Nine Special Gift Situations 29

* 9.3 Inventory 29

* 9.5 Computer Technology or Equipment 30

* 9.7 Conservation Property 30

* 9.10 Retirement Plan Accounts 34

9.12 Donors’ Creations 34

* 9.15 Unreimbursed Expenses 34

* 9.17 Automobile Expenses 35

9.19 Bargain Sales 36

* 9.22 Contributions by Trusts 36

* 9.31 Public Policy Considerations 37

Chapter Ten Other Aspects of Deductible Giving 41

* 10.1 Valuation of Property 41

* 10.4 Conditional Gifts 42

10.9 Deductible Gifts to Noncharitable Organizations 44

* 10.14 Penalties 45

PART FOUR PLANNED GIVING

Chapter Eleven Valuation of Partial Interests 51

* 11.3 General Actuarial Valuations 51

Chapter Twelve Charitable Remainder Trusts 53

* 12.2 Charitable Remainder Annuity Trust Rules 53

12.4 Issues 53

12.7 Early Terminations of Charitable Remainder Trusts 54

* 12.8 Taxation of Charitable Remainder Trusts 54

* 12.9 Mandatory Provisions 55

* 12.10 Private Foundation Rules 55

PART FIVE INTERNATIONAL CHARITABLE GIVING

Chapter Eighteen International Giving by Individuals during Lifetime 59

* 18.2 Background 59

* 18.5 Summary 59

PART SIX ADMINISTRATION OF CHARITABLE GIVING PROGRAMS

Chapter Twenty-One Substantiation and Appraisal Requirements 63

* 21.2 Substantiation Requirements for Gifts of Money 63

* 21.3 Substantiation Requirements for Gifts of $250 or More 63

21.4 Substantiation Requirements for Noncash Gifts 64

21.5 Appraisal Requirements 64

21.6 Appraisals and Penalties 67

* 21.8 Burden of Proof Rules 67

Chapter Twenty-Two Disclosure Requirements 69

* 22.2 Quid Pro Quo Contribution Rules 69

Chapter Twenty-Four Reporting Requirements 71

* 24.13 Split-Interest Trust Filing Requirements 71

PART SEVEN APPENDICES

Appendix E: Inflation-Adjusted Insubstantiality Threshold—$50 Test 75

Appendix F: Inflation-Adjusted Insubstantiality Threshold—$25 Test 77

Appendix G: Inflation-Adjusted Low-Cost Article Definition 79

Appendix H: Monthly Federal Interest Rates Used in Valuing Partial Interests (IRC § 7520) 81

Tables

Cumulative Table of Cases 89

Cumulative Table of IRS Revenue Rulings and Revenue Procedures 97

Cumulative Table of IRS Private Determinations Cited in Text 101

Cumulative Table of IRS Private Letter Rulings, Technical Advice Memoranda, and General Counsel Memoranda 105

Cumulative Table of Cases Discussed in Bruce R. Hopkins’ Nonprofit Counsel 115

Cumulative Table of Revenue Rulings Discussed in Bruce R. Hopkins’ Nonprofit Counsel 119

Cumulative Table of Private Letter Rulings and Technical Advice Memoranda discussed in Bruce R. Hopkins’ Nonprofit Counsel 121

Cumulative Index 123

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