Contents

C H A P T E R S I X6Timing of Charitable Deductions§ 6.1 Gifts of Money in General 173§ 6.2 Gifts of Money by Check 173§ 6.3 Gifts of Money byCredit Card 175§ 6.4 Gifts of Money byTelephone 176§ 6.5 Gifts of Securities 176§ 6.6 Gifts of Copyright Interest 178§ 6.7 Gifts by Means of Notes 179§ 6.8 Gifts by Letters of Credit 179§ 6.9 Gifts of Property Subjectto Option 180§ 6.10 Gifts of Credit CardRebates 181§ 6.11 Gifts of Tangible PersonalProperty 181§ 6.12 Gifts of Real Property 181§ 6.13 Gifts by Corporations 182§ 6.14 Gifts by Partnerships 183§ 6.15 Gifts by Means of theInternet 185The general rule is that a federal income tax charitable contribution deductionarises at the time of, and for the year in which, the deduction is actually paid. 1 Asignificant exception to this rule is the body of law concerning the tax deductibilityof contributions carried over to a year subsequent to the one in which the giftwas made; in this situation, the contribution is actually paid in one year but theallowable charitable deduction arises in, and is treated for tax purposes as paidin, another year. 2 The mere making of a pledge will not result in an income taxcharitable deduction. 3 Of course, a mere intent to make a charitable gift does notgenerate a contribution deduction. 4The matter of the timing of a federal income tax charitable contributiondeduction concerns the tax year for which the gift is deductible. To determinethis year, the federal tax law follows the concept of title; that is, the contributionis for the year in which title to the item that is the subject of the gift passes fromthe donor to the donee. Title to property generally passes when all of the rightsto and interests in the property have been properly transferred.1 IRC § 170(a)(1); Reg. § 1.170A-1(a)(1). See also Christensen v. Commissioner, 40 T.C. 563 (1963).2 See Chapter 7.3 Reg. § 1.170A-1(a)(1). See also Rev. Rul. 75-348, 1975-2 C.B. 75; Rev. Rul. 55-410, 1955-1 C.B. 297; Mannv. Commissioner, 35 F.2d 873 (D.C. Ct. App. 1929). See § 4.9.4 Glynn v. Commissioner, 76 T.C. 116 (1981), aff’d in unpublished opinion (1st Cir. 1982). 171