The Tax Law of Charitable Giving - Bruce R. Hopkins

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E.g., Morrison v. Commissioner, 53 T.C.M. (CCH) 251 (1987).

      33 33 McCall v. United States, 72-1 U.S.T.C. ¶ 9263 (D.S.C. 1972).

      34 34 Richardson v. Commissioner, 49 T.C.M. (CCH) 67, 73 (1984).

      35 35 See Reg. § 1.170A-1(b).

      36 36 Ferguson v. Commissioner, 99-1 U.S.T.C. ¶ 50,412 (9th Cir. 1999).

      37 37 This opinion, with its focus on ripening of stock into a fixed right to receive money, illustrates that this matter of the timing of charitable gifts, for deductibility purposes, ties in with the doctrine of anticipatory assignment of income (see § 2.1(h)) and the step transaction doctrine (see § 3.7). The facts in another court opinion amount to a case study as to how not to go about structuring a charitable contribution of stock, with lessons abounding for donors, lawyers, accountants, and appraisers (Bergquist v. Commissioner, 131 T.C. 8 (2008)).

      38 38 Kingsrow Enters., Inc. v. Metromedia, Inc., 397 F. Supp. 879 (S.D.N.Y. 1975).

      39 39 17 U.S.C. § 28 (1976).

      40 40 The copyright “is not transferred by mere physical delivery, or other acquisition, of the certificate” (Kingsrow Enters, Inc. v. Metromedia, Inc., 397 F. Supp. 879, 881 (S.D.N.Y. 1975)).

      41 41 Smith v. Commissioner, 42 T.C.M. (CCH) 431, 437-38 (1981).

      42 42 Rev. Rul. 78-38, 1978-1 C.B. 67. This rule assumes that the notes represent bona fide debt (e.g., Lippmann v. Commissioner, 52 T.C. 130 (1969)).

      43 43 Rev. Rul. 68-174, 1968-1 C.B. 81. Also O'Neil v. United States, 82-1 U.S.T.C. ¶ 9209 (E.D. Cal. 1982), aff'd without opinion (9th Cir. 1982); Guren v. Commissioner, 66 T.C. 118 (1976); Petty v. Commissioner, 40 T.C. 521 (1963).

      44 44 See text accompanying supra note 1. Also Story III v. Commissioner, 38 T.C. 936 (1962); Andrus v. Burnet, 50 F.2d 332 (D.C. Ct. App. 1931).

      45 45 Rev. Rul. 68-174, 1968-1 C.B. 81.

      46 46 Watson v. Commissioner, 69 T.C. 544 (1978), aff'd, 613 F.2d 594 (5th Cir. 1980).

      47 47 Priv. Ltr. Rul. 8420002.

      48 48 Rev. Rul. 82-197, 1982-2 C.B. 72; Rev. Rul. 78-181, 1978-1 C.B. 261.

      49 49 See § 2.4(c).

      50 50 See Private Foundations ch. 4.

      51 51 Id., ch. 5.

      52 52 Priv. Ltr. Rul. 9335057.

      53 53 Tech. Adv. Mem. 9828001.

      54 54 See Private Foundations ch. 4.

      55 55 Priv. Ltr. Rul. 200530007, superseding Priv. Ltr. Rul. 200312003.

      56 56 See Private Foundations ch. 5.

      57 57 Reg. § 53.4941(d)-2(c)(3).

      58 58 See Private Foundations ch. 10.

      59 59 IRC § 512(b)(5). See § 3.6.

      60 60 Priv. Ltr. Rul. 9623035.

      61 61 In a federal tax controversy, state law controls the determination of a taxpayer's interest in property, while the tax consequences are determined in accordance with federal law (e.g., United States v. Nat'l Bank of Commerce, 472 U.S. 713, 722 (1985)).

      62 62 E.g., Dyer v. Commissioner, 58 T.C.M. (CCH) 1321 (1990); Brotzler v. Commissioner, 44 T.C.M. (CCH) 1478 (1982); Guest v. Commissioner, 77 T.C. 9 (1981); Alioto v. Commissioner, 40 T.C.M. (CCH) 1147 (1980); Dodge, Jr. v. Commissioner, 27 T.C.M. (CCH) 1170 (1968); Johnson v. United States, 280 F. Supp. 412 (S.D.N.Y. 1967).

      63 63 Douglas v. Commissioner, 58 T.C.M. (CCH) 563 (1989).

      64 64 Kaplan v. Commissioner, 91 T.C.M. (CCH) 695 (2006).

      65 65 Tidler v. Commissioner, 53 T.C.M. (CCH) 934 (1987).

      66 66 See § 4.14.

      67 67 In general, see § 7.6.

      68 68 Mecox Partners LP v. United States, 117 A.F.T.R.2d (RIA) 2016-593 (S.D.N.Y. 2016). Also Zarlengo v. Commissioner, 108 T.C.M. (CCH) 155 (2014); Rothman v. Commissioner, 104 T.C.M. (CCH) 126 (2012), supp. by 103 T.C.M. (CCH) 1864 (2012).

      69 69 Ten Twenty Six Investors v. Commissioner, 113 T.C.M. (CCH) 1516 (2017).

      70 70 See § 7.6(d), text accompanied by note 216.

      71 71 See IRC § 1361(a)(2).

      72 72 IRC § 170(a)(2); Reg. § 1.170A-11(b). An illustration of this rule appears in Priv. Ltr. Rul. 7802001. This rule was created because corporations intending to make the maximum charitable contribution allowable as a deduction experienced difficulty in determining, before the end of the tax year, what their net income would be. S. Rep. No. 831, 81st Cong., 1st Sess. (vol. 3) 3–4 (1949).

      73 73 Reg. § 1.170A-11(b)(2). In Chase v. Commissioner, 19 T.C.M. (CCH) 234 (1960), and Wood-Mosaic Co. v. United States, 160 F. Supp. 63 (W.D. Ky. 1958), charitable deductions were denied

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