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Magnolia Dev. Corp. v. Commissioner, 19 T.C.M. (CCH) 934, 937 (1960). Also Palmer v. Commissioner, 468 F.2d 705 (10th Cir. 1972); Tatum v. Commissioner, 400 F.2d 242 (5th Cir. 1968); Friedman v. Commissioner, 346 F.2d 506 (6th Cir. 1965).

      91 91 Sheppard v. United States, 361 F.2d 972, 978 (Ct. Cl. 1966). Also Behrend v. United States, 73-1 U.S.T.C. ¶ 9123 (4th Cir. 1972); Fox v. Commissioner, 27 T.C.M. (CCH) 1001 (1968).

      92 92 See ch. 10.

      93 93 Priv. Ltr. Rul. 9452020.

      94 94 Priv. Ltr. Rul. 9452026. An application of the step transaction doctrine, albeit not entailing a charitable contribution, was made available when a court disregarded a series of transactions entered into by a family involving the purchase of ranch properties and subsequent tax-free exchanges of these properties with family-controlled entities (True v. United States, 190 F.3d 1165 (10th Cir. 1999)).

      95 95 Rev. Rul. 55-410, 1955-1 C.B. 297.

      96 96 E.g., Priv. Ltr. Rul. 200202034.

      97 97 E.g., Priv. Ltr. Rul. 200241044.

      98 98 IRC § 163(a).

      99 99 Peerless Indus., Inc. v. United States, 94-1 U.S.T.C. ¶ 50,043 (E.D. Pa. 1994).

      100 100 Id. at 83,174.

      101 101 IRC § 170(a)(2).

      102 102 See § 2.4(c).

      103 103 IRC § 4946 (see Private Foundations ch. 4).

      104 104 IRC § 4941 (see Private Foundations ch. 5).

      105 105 Reg. § 53.4941(d)-2(c)(3).

      106 106 Reg. §§ 53.4941(d)-2(f)(2), 53.4941(d)-2(f)(4), Example (4).

      107 107 Rev. Rul. 77-160, 1977-1 C.B. 351, 352.

PART TWO Charitable Giving in General

CHAPTER FOUR Timing of Charitable Deductions

        § 4.1 Overview of Law

        § 4.2 Contributions of Money in General

        § 4.3 Contributions of Money by Check

        § 4.4 Contributions of Money by Credit Card

        § 4.5 Contributions of Money by Telephone

        § 4.6 Contributions of Securities

        § 4.7 Contributions of Copyright Interest

        § 4.8 Contributions by Means of Notes

        § 4.9 Contributions by Letters of Credit

        § 4.10 Contributions of Property Subject to Option

        § 4.11 Contributions of Stock Options

        § 4.12 Contributions of Credit Card Rebates

        § 4.13 Contributions of Tangible Personal Property

        § 4.14 Contributions of Real Property

        § 4.15 Contributions of Easements

        § 4.16 Contributions by C Corporations

        § 4.17 Contributions by S Corporations

        § 4.18 Contributions by Partnerships

        § 4.19 Contributions by Means of the Internet

The general rule is that a federal income tax charitable contribution deduction arises at the time of, and for the year in which, the deduction is actually paid.¹ A significant exception to this rule is the body of law concerning the tax deductibility of contributions carried over to a year subsequent to the one in which the gift was made; in this situation, the contribution is actually paid in one year but the allowable charitable deduction arises in, and is treated for tax purposes as paid in, another year.² The mere making of a pledge will not result in an income tax charitable deduction.³ Of course, a mere intent to make a charitable gift does not generate a contribution deduction.⁴

§ 4.1 OVERVIEW OF LAW

      The matter of the timing of a federal income tax charitable contribution deduction concerns the tax year for which the gift is deductible. To determine this year, the federal tax law follows the concept of title; that is, the contribution is for the year in which title to the item that is the subject of the gift passes from the donor to the donee. Title to property generally passes when all of the rights to and

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