The Tax Law of Charitable Giving, 6th Edition

The Tax Law of Charitable Giving, 6th Edition

by Bruce R. Hopkins
Released March 2021
Publisher(s): Wiley
ISBN: 9781119756002

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Book description

the tax law of charitable giving

Discover a fully updated and comprehensive reference on US charitable tax law from a leading authority

As United States charitable tax law becomes ever more complex and byzantine, the need for a one-stop resource on foundational and advanced topics in this practice area has become acute. The comprehensively revised Sixth Edition of The Tax Law of Charitable Giving fills this niche. The book offers readers a fulsome, authoritative, and well-organized description of modern US tax laws on charitable giving

Ranging over the basics of US charitable giving law to the intricate details of contributions of various types of property and international giving, this accomplished nonprofit lawyer, professor, and author delves deeply into a wide variety of subjects concerning deductible (and nondeductible) charitable giving. In addition to fundamental topics such as the definition of gift and percentage limitations on charitable deductions, readers will learn about planned giving, donor-advised funds, the substantiation and appraisal requirements, reporting and disclosure laws, valuation pricinples, tax penalties, and more.

Ideal for lawyers, accountants, and other financial professionals who advise clients on charitable giving and tax matters, The Tax Law of Charitable Giving provides an authoritative reference on all aspects of philanthropy and federal tax law.

Table of contents

  1. Cover
  2. Title Page
  3. Copyright
  4. Dedication
  5. Preface
  6. Book Citations
  7. PART ONE: Introduction to the Tax Law of Charitable Giving
    1. CHAPTER ONE: Charitable Giving Law: Basic Concepts
      1. § 1.1 INTRODUCTION TO CHARITABLE CONTRIBUTION DEDUCTION
      2. § 1.2 DEFINING TAX-EXEMPT ORGANIZATIONS
      3. § 1.3 CHARITABLE ORGANIZATIONS LAW PHILOSOPHY
      4. § 1.4 STATISTICAL PROFILE OF CHARITABLE SECTOR
      5. § 1.5 HISTORY OF CHARITABLE CONTRIBUTION DEDUCTION
      6. § 1.6 CHARITABLE CONTRIBUTION DEDUCTION REFORM PROPOSALS
      7. NOTES
    2. CHAPTER TWO: Fundamental Concepts
      1. § 2.1 DEFINITION OF GIFT
      2. § 2.2 DEFINITION OF DONOR
      3. § 2.3 DEFINITION OF CHARITABLE ORGANIZATION
      4. § 2.4 PUBLIC CHARITIES AND PRIVATE FOUNDATIONS
      5. § 2.5 UNRELATED BUSINESS LAW
      6. § 2.6 FACTORS AFFECTING INCOME TAX DEDUCTIBILITY OF CHARITABLE GIFTS
      7. § 2.7 CHARITABLE ORGANIZATIONS LISTING RELIANCE RULES
      8. § 2.8 GRANTOR TRUST LAW
      9. NOTES
    3. CHAPTER THREE: Contributions of Money and Property
      1. § 3.1 CONTRIBUTIONS OF MONEY
      2. § 3.2 CONTRIBUTIONS OF PROPERTY IN GENERAL
      3. § 3.3 CONTRIBUTIONS OF LONG-TERM CAPITAL GAIN PROPERTY IN GENERAL
      4. § 3.4 CONTRIBUTIONS OF ORDINARY INCOME PROPERTY
      5. § 3.5 CERTAIN CONTRIBUTIONS OF CAPITAL GAIN PROPERTY
      6. § 3.6 CONTRIBUTIONS OF PROPERTY FOR UNRELATED USE
      7. § 3.7 STEP TRANSACTION DOCTRINE
      8. § 3.8 CHARITABLE PLEDGES
      9. NOTES
  8. PART TWO: Charitable Giving in General
    1. CHAPTER FOUR: Timing of Charitable Deductions
      1. § 4.1 OVERVIEW OF LAW
      2. § 4.2 CONTRIBUTIONS OF MONEY IN GENERAL
      3. § 4.3 CONTRIBUTIONS OF MONEY BY CHECK
      4. § 4.4 CONTRIBUTIONS OF MONEY BY CREDIT CARD
      5. § 4.5 CONTRIBUTIONS OF MONEY BY TELEPHONE
      6. § 4.6 CONTRIBUTIONS OF SECURITIES
      7. § 4.7 CONTRIBUTIONS OF COPYRIGHT INTEREST
      8. § 4.8 CONTRIBUTIONS BY MEANS OF NOTES
      9. § 4.9 CONTRIBUTIONS BY LETTERS OF CREDIT
      10. § 4.10 CONTRIBUTIONS OF PROPERTY SUBJECT TO OPTION
      11. § 4.11 CONTRIBUTIONS OF STOCK OPTIONS
      12. § 4.12 CONTRIBUTIONS OF CREDIT CARD REBATES
      13. § 4.13 CONTRIBUTIONS OF TANGIBLE PERSONAL PROPERTY
      14. § 4.14 CONTRIBUTIONS OF REAL PROPERTY
      15. § 4.15 CONTRIBUTIONS OF EASEMENTS
      16. § 4.16 CONTRIBUTIONS BY C CORPORATIONS
      17. § 4.17 CONTRIBUTIONS BY S CORPORATIONS
      18. § 4.18 CONTRIBUTIONS BY PARTNERSHIPS
      19. § 4.19 CONTRIBUTIONS BY MEANS OF THE INTERNET
      20. NOTES
    2. CHAPTER FIVE: Limitations on Annual Deductibility
      1. § 5.1 OVERVIEW OF LAW
      2. § 5.2 INDIVIDUALS' CONTRIBUTION BASE
      3. § 5.3 CORPORATIONS' TAXABLE INCOME
      4. § 5.4 PERCENTAGE LIMITATIONS: AN OVERVIEW
      5. § 5.5 SIXTY PERCENT LIMITATION
      6. § 5.6 FIFTY PERCENT LIMITATION
      7. § 5.7 THIRTY PERCENT LIMITATION FOR GIFTS OF CERTAIN PROPERTY
      8. § 5.8 ELECTABLE 50 PERCENT LIMITATION
      9. § 5.9 GENERAL 30 PERCENT LIMITATION
      10. § 5.10 INTERPLAY OF 50 PERCENT/SPECIAL 30 PERCENT LIMITATIONS
      11. § 5.11 INTERPLAY OF 50 PERCENT/GENERAL 30 PERCENT LIMITATIONS
      12. § 5.12 INTERPLAY OF SPECIAL 30 PERCENT/GENERAL 30 PERCENT LIMITATIONS
      13. § 5.13 TWENTY PERCENT LIMITATION
      14. § 5.14 QUALIFIED CONSERVATION CONTRIBUTION LAW
      15. § 5.15 CONSERVATION GIFTS BY FARMERS AND RANCHERS
      16. § 5.16 GIFTS FOR THE USE OF CHARITY
      17. § 5.17 BLENDING PERCENTAGE LIMITATIONS
      18. § 5.18 RULES FOR SPOUSES
      19. § 5.19 INFORMATION REQUIREMENTS
      20. § 5.20 PERCENTAGE LIMITATION FOR CORPORATIONS
      21. NOTES
    3. CHAPTER SIX: Estate and Gift Law
      1. § 6.1 OVERVIEW OF LAW
      2. § 6.2 FEDERAL GIFT TAX
      3. § 6.3 FEDERAL ESTATE TAX
      4. § 6.4 UNIFICATION OF TAXES
      5. § 6.5 REMAINDER INTERESTS
      6. § 6.6 ASCERTAINABILITY OF VALUE OF CHARITABLE INTEREST
      7. NOTES
    4. CHAPTER SEVEN: Unique Charitable Contribution Laws
      1. § 7.1 WORKS OF ART
      2. § 7.2 GEMS
      3. § 7.3 INVENTORY
      4. § 7.4 SCIENTIFIC RESEARCH PROPERTY
      5. § 7.5 LICENSE TO USE PATENT
      6. § 7.6 EASEMENTS AND OTHER CONSERVATION PROPERTY
      7. § 7.7 S CORPORATION STOCK
      8. § 7.8 SECTION 306 STOCK
      9. § 7.9 RETIREMENT PLAN ACCOUNTS
      10. § 7.10 COMMODITY FUTURES CONTRACTS
      11. § 7.11 DONORS' CREATIONS
      12. § 7.12 CHARITY AUCTIONS
      13. § 7.13 SERVICES
      14. § 7.14 UNREIMBURSED EXPENSES
      15. § 7.15 LIMITATION ON DEDUCTION FOR EXPENSES DUE TO PLEASURE
      16. § 7.16 AUTOMOBILE EXPENSES
      17. § 7.17 USE OF PROPERTY
      18. § 7.18 BARGAIN SALES
      19. § 7.19 PROPERTY SUBJECT TO DEBT
      20. § 7.20 FUTURE INTERESTS IN TANGIBLE PERSONAL PROPERTY
      21. § 7.21 CONTRIBUTIONS BY TRUSTS
      22. § 7.22 TAXIDERMY
      23. § 7.23 CLOTHING AND HOUSEHOLD ITEMS
      24. § 7.24 VEHICLES
      25. § 7.25 INTELLECTUAL PROPERTY
      26. § 7.26 FOREIGN TAX CREDIT
      27. § 7.27 SUBSISTENCE WHALING EXPENSES
      28. § 7.28 VIRTUAL CURRENCY TRANSACTIONS
      29. NOTES
    5. CHAPTER EIGHT: Additional Aspects of Deductible Giving
      1. § 8.1 CONTRIBUTIONS BY MEANS OF AN AGENT
      2. § 8.2 CONTRIBUTIONS FOR THE USE OF CHARITY
      3. § 8.3 CONDITIONAL CONTRIBUTIONS
      4. § 8.4 EARMARKING OF CONTRIBUTIONS FOR INDIVIDUALS
      5. § 8.5 INTERRELATIONSHIP WITH BUSINESS EXPENSE DEDUCTION
      6. § 8.6 DENIAL OF DEDUCTION FOR LOBBYING ACTIVITIES
      7. § 8.7 DEDUCTIBLE CONTRIBUTIONS TO NONCHARITABLE ORGANIZATIONS
      8. § 8.8 REALLOCATION OF DEDUCTIONS
      9. § 8.9 FUNDING OF TERRORISM
      10. § 8.10 STATUTE OF LIMITATIONS
      11. § 8.11 CONCEPT OF TRUST INCOME
      12. § 8.12 UNRELATED BUSINESS INCOME CHARITABLE DEDUCTION
      13. § 8.13 CHARITABLE FAMILY LIMITED PARTNERSHIPS
      14. § 8.14 ABUSIVE TAX TRANSACTIONS
      15. § 8.15 PUBLIC POLICY CONSIDERATIONS
      16. NOTES
  9. PART THREE: Planned Giving
    1. CHAPTER NINE: Planned Giving and Valuation
      1. § 9.1 PLANNED GIVING FUNDAMENTALS
      2. § 9.2 PARTIAL INTERESTS LAW
      3. § 9.3 OVERVIEW OF VALUATION LAW
      4. § 9.4 STANDARD ACTUARIAL FACTORS
      5. § 9.5 GENERAL ACTUARIAL VALUATIONS
      6. § 9.6 NONSTANDARD ACTUARIAL FACTORS
      7. § 9.7 SECURITIES LAWS
      8. NOTES
    2. CHAPTER TEN: Charitable Remainder Trusts
      1. § 10.1 DEFINITIONS
      2. § 10.2 CHARITABLE REMAINDER ANNUITY TRUST LAW
      3. § 10.3 CHARITABLE REMAINDER UNITRUST LAW
      4. § 10.4 ISSUES
      5. § 10.5 TAX TREATMENT OF DISTRIBUTIONS
      6. § 10.6 DIVISION OF CHARITABLE REMAINDER TRUSTS
      7. § 10.7 BASIS IN DISPOSITION OF TERM INTEREST
      8. § 10.8 TAXATION OF CHARITABLE REMAINDER TRUSTS
      9. § 10.9 MANDATORY PROVISIONS
      10. § 10.10 PRIVATE FOUNDATION LAW
      11. § 10.11 UNIVERSITY ENDOWMENT INVESTMENT SHARING
      12. § 10.12 CHARITABLE REMAINDER TRUSTS AS PARTNERS OR SHAREHOLDERS IN REITs
      13. § 10.13 WEALTH REPLACEMENT TRUSTS
      14. § 10.14 CALCULATION OF CHARITABLE CONTRIBUTION DEDUCTION
      15. § 10.15 MERGER OF CHARITABLE REMAINDER TRUSTS
      16. § 10.16 EARLY TERMINATIONS OF CHARITABLE REMAINDER TRUSTS
      17. § 10.17 REGULAR TERMINATION OF CHARITABLE REMAINDER TRUSTS
      18. NOTES
    3. CHAPTER ELEVEN: Pooled Income Funds
      1. § 11.1 DEFINITIONS
      2. § 11.2 QUALIFYING POOLED INCOME FUNDS
      3. § 11.3 ALLOCATION OF INCOME
      4. § 11.4 RECOGNITION OF GAIN OR LOSS ON TRANSFERS
      5. § 11.5 MANDATORY PROVISIONS
      6. § 11.6 PRIVATE FOUNDATION LAW
      7. § 11.7 PASS-THROUGH OF DEPRECIATION
      8. § 11.8 TAX STATUS OF FUNDS AND BENEFICIARIES
      9. § 11.9 MULTIORGANIZATION POOLED INCOME FUNDS
      10. § 11.10 COMPARISON WITH CHARITABLE REMAINDER TRUSTS
      11. § 11.11 CHARITABLE CONTRIBUTION DEDUCTION
      12. NOTES
    4. CHAPTER TWELVE: Charitable Gift Annuities
      1. § 12.1 CONTRACT AS VEHICLE FORM
      2. § 12.2 TAX TREATMENT TO DONOR
      3. § 12.3 DEFERRED PAYMENT GIFT ANNUITIES
      4. § 12.4 ESTATE AND GIFT TAX CONSEQUENCES
      5. § 12.5 UNRELATED BUSINESS INCOME IMPLICATIONS
      6. § 12.6 UNRELATED DEBT-FINANCED INCOME IMPLICATIONS
      7. § 12.7 CONTRAST WITH OTHER PLANNED GIFT METHODS
      8. § 12.8 ANTITRUST LAWS
      9. § 12.9 SECURITIES LAWS
      10. § 12.10 CHARITABLE CONTRIBUTION DEDUCTION
      11. NOTES
    5. CHAPTER THIRTEEN: Other Types of Deductible Remainder Interests
      1. § 13.1 OVERVIEW OF LAW
      2. § 13.2 QUALIFYING PARTIAL INTERESTS
      3. § 13.3 REMAINDER INTERESTS IN PERSONAL RESIDENCES OR FARMS
      4. § 13.4 UNDIVIDED PORTIONS OF ENTIRE INTERESTS IN PROPERTY
      5. NOTES
    6. CHAPTER FOURTEEN: Charitable Lead Trusts
      1. § 14.1 OVERVIEW OF LAW
      2. § 14.2 INCOME INTERESTS
      3. § 14.3 TAX TREATMENT OF CHARITABLE LEAD TRUSTS
      4. § 14.4 TESTAMENTARY USE OF CHARITABLE LEAD TRUSTS
      5. § 14.5 PERCENTAGE LIMITATION LAW
      6. § 14.6 PRIVATE FOUNDATION LAW
      7. § 14.7 ANTI-ABUSE RULE CONCERNING INCOME INTERESTS
      8. § 14.8 CHARITABLE INCOME TRUSTS
      9. § 14.9 COMPARISON WITH CHARITABLE REMAINDER TRUSTS
      10. § 14.10 VALUING CHARITABLE CONTRIBUTION DEDUCTION
      11. § 14.11 CHARITABLE CONTRIBUTION DEDUCTION
      12. NOTES
    7. CHAPTER FIFTEEN: Contributions of and Using Life Insurance
      1. § 15.1 INTRODUCTION
      2. § 15.2 LIFE INSURANCE CONCEPTS
      3. § 15.3 CHARITABLE GIVING AND INSURANCE
      4. § 15.4 INSURABLE INTEREST
      5. § 15.5 UNRELATED DEBT-FINANCED INCOME LAW
      6. § 15.6 CHARITABLE SPLIT-DOLLAR INSURANCE PLANS
      7. § 15.7 INSURANCE CONTRACT REPORTING REQUIREMENTS
      8. NOTES
  10. PART FOUR: International Charitable Giving
    1. CHAPTER SIXTEEN: International Giving by Individuals During Lifetime
      1. § 16.1 INTRODUCTION
      2. § 16.2 OVERVIEW OF LAW
      3. § 16.3 EARMARKING AND CONDUIT RESTRICTIONS
      4. § 16.4 CONTROL OVER FOREIGN DONEES
      5. § 16.5 SUMMARY
      6. § 16.6 INCOME TAX TREATIES
      7. NOTES
    2. CHAPTER SEVENTEEN: International Giving by Individuals by Means of Estates
      1. § 17.1 OVERVIEW OF LAW
      2. § 17.2 ESTATE TAX LAW
      3. § 17.3 GIFT TAX LAW
      4. § 17.4 CHARITABLE GIVING BY NONCITIZEN NONRESIDENTS
      5. NOTES
    3. CHAPTER EIGHTEEN: International Giving by Corporations
      1. § 18.1 CONTRIBUTIONS TO U.S. CHARITIES FOR FOREIGN USE
      2. § 18.2 CONTRIBUTIONS OF MONEY FROM FOREIGN AFFILIATE OF U.S. PARENT TO FOREIGN CHARITIES
      3. § 18.3 CONTRIBUTIONS OF GOODS OR SERVICES TO BENEFIT FOREIGN CHARITIES
      4. § 18.4 GRANTS OF FUNDS FROM U.S.-RELATED FOUNDATION TO FOREIGN CHARITIES
      5. NOTES
  11. PART FIVE: Administration of Charitable Giving Programs
    1. CHAPTER NINETEEN: Substantiation and Appraisal Law
      1. § 19.1 INTRODUCTION
      2. § 19.2 SUBSTANTIATION LAW FOR CHARITABLE MONETARY CONTRIBUTIONS
      3. § 19.3 SUBSTANTIATION LAW FOR CHARITABLE CONTRIBUTIONS OF $250 OR MORE
      4. § 19.4 SUBSTANTIATION LAW FOR NONCASH CHARITABLE CONTRIBUTIONS
      5. § 19.5 SUBSTANTIATION LAW FOR CONSERVATION CONTRIBUTIONS
      6. § 19.6 SUBSTANTIATION LAW FOR CONTRIBUTIONS OF MOTOR VEHICLES, BOATS, AND AIRPLANES
      7. § 19.7 SUBSTANTIATION LAW FOR CONTRIBUTIONS TO DONOR-ADVISED FUNDS
      8. § 19.8 APPRAISAL LAW
      9. § 19.9 APPRAISALS OF CLOTHING AND HOUSEHOLD ITEMS
      10. § 19.10 RECORDKEEPING LAW
      11. NOTES
    2. CHAPTER TWENTY: Disclosure Law
      1. § 20.1 DISCLOSURE BY CHARITABLE ORGANIZATIONS IN GENERAL
      2. § 20.2 QUID PRO QUO CONTRIBUTION LAW
      3. § 20.3 DISCLOSURE BY NONCHARITABLE ORGANIZATIONS
      4. NOTES
    3. CHAPTER TWENTY-ONE: Special Events, Corporate Sponsorships, and Donor-Advised Funds
      1. § 21.1 IRS AUDIT GUIDELINES
      2. § 21.2 SPECIAL EVENTS
      3. § 21.3 CORPORATE SPONSORSHIP LAW
      4. § 21.4 DONOR-ADVISED FUNDS
      5. NOTES
    4. CHAPTER TWENTY-TWO: Reporting Law
      1. § 22.1 CONTRIBUTION REPORTING BY INDIVIDUALS
      2. § 22.2 CONTRIBUTION REPORTING BY C CORPORATIONS
      3. § 22.3 CONTRIBUTION REPORTING BY S CORPORATIONS
      4. § 22.4 CONTRIBUTION REPORTING BY PARTNERSHIPS
      5. § 22.5 CONTRIBUTION REPORTING BY DONEES IN GENERAL
      6. § 22.6 CONTRIBUTION REPORTING IN UNRELATED BUSINESS CONTEXT
      7. § 22.7 NONCASH CONTRIBUTIONS REPORTING LAW IN GENERAL
      8. § 22.8 CONTRIBUTIONS OF VEHICLES REPORTING LAW
      9. § 22.9 CONTRIBUTIONS OF INTELLECTUAL PROPERTY REPORTING LAW
      10. § 22.10 DISPOSITIONS OF CONTRIBUTED PROPERTY REPORTING LAW
      11. § 22.11 PERSONAL BENEFIT CONTRACT REPORTING LAW
      12. § 22.12 SPLIT-INTEREST TRUST REPORTING LAW
      13. NOTES
    5. CHAPTER TWENTY-THREE: Valuation Principles and Various Penalties
      1. § 23.1 VALUATION OF PROPERTY—GENERAL PRINCIPLES
      2. § 23.2 VALUATION OF WORKS OF ART
      3. § 23.3 VALUATION OF SECURITIES
      4. § 23.4 VALUATION OF OTHER TYPES OF PROPERTY
      5. § 23.5 OTHER COURT VALUATION CASES
      6. § 23.6 FEDERAL TAX PENALTIES
      7. § 23.7 BURDEN OF PROOF LAW
      8. § 23.8 BURDEN OF PRODUCTION AND PROCEDURAL LAW
      9. NOTES
    6. CHAPTER TWENTY-FOUR: State Fundraising Law
      1. § 24.1 STATE REGULATION IN GENERAL
      2. § 24.2 HISTORICAL PERSPECTIVE
      3. § 24.3 STATES' POLICE POWER
      4. § 24.4 BASIC DEFINITIONS
      5. § 24.5 REGISTRATION LAW
      6. § 24.6 REPORTING LAW
      7. § 24.7 EXEMPTIONS FROM REGULATION
      8. § 24.8 FUNDRAISING COST LIMITATIONS
      9. § 24.9 PROHIBITED ACTS
      10. § 24.10 CONTRACT LAW
      11. § 24.11 DISCLOSURE LAW
      12. NOTES
  12. About the Author
  13. About the Online Resources
  14. Index
  15. End User License Agreement

Product information

  • Title: The Tax Law of Charitable Giving, 6th Edition
  • Author(s): Bruce R. Hopkins
  • Release date: March 2021
  • Publisher(s): Wiley
  • ISBN: 9781119756002