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Deductibility of Charitable Contributions

November 2010
H. Carter Hood and Benjamin L. Grosz
35 Estates, Gifts and Trusts Journal 274

H. Carter Hood is a partner at Ivins, Phillips & Barker and Benjamin L. Grosz is third year law student at the University of Virginia Law School.  Different rules may apply for purposes of determining the deductibility of a contribution by an individual for income, estate and/or gift tax purposes.  In general, a deductible “charitable contribution” may be made by an individual under Internal Revenue Code §§ 170(c), 642(c), 2055(a) and 2522(a) to or for the use of any of the organizations included in six categories.  A chart has been created to summarize the various deductibility rules and the differences among them in easily referable form.

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