A charitable contribution is a voluntary donation to a qualified organization without expecting anything in return. This course covers claiming deductions for cash and noncash contributions, qualified organizations, deductible contribution types, deduction limits, record-keeping, and reporting. It concludes with Tax Court case reviews and relevant legislative information.

• identify the types of organizations that qualify to receive deductible charitable contributions
• recognize the types of contributions that can and cannot be deducted
• apply the rules relating to the deductibility of contributions of property of different types, including the correct method of valuation that applies in each case
• identify the types of records relating to charitable contributions that taxpayers must keep, and the supporting documentation that may be required for submission

Tax Year: 2023

CPAs, CMAs, CFEs, CFPs, EAs, and other tax professionals and financial advisors

Familiarity with Form 1040 Schedule A