Contents

C H A P T E R T E N1 0Other Aspects of DeductibleGiving§ 10.1 Valuation of Property 355(a) General Principles 356(b) Procedure for Valuationof Art 365(c) Valuation of UsedVehicles 367§ 10.2 Contributions by Meansof an Agent 368§ 10.3 Gifts for the Use of Charity 370§ 10.4 Conditional Gifts 372(a) Material Conditions—Nondeductibility 372(b) Negligible Conditions 374(c) Material Conditions—Deductibility 374§ 10.5 Earmarking of Giftsfor Individuals 375§ 10.6 Alternative MinimumTax Considerations 378§ 10.7 Interrelationship withBusiness ExpenseDeduction 379§ 10.8 Denial of Deduction forLobbying Activities 379§ 10.9 Deductible Giftsto NoncharitableOrganizations 380§ 10.10 Reallocationof Deductions 383§ 10.11 Charitable Giving andFunding of Terrorism 383§ 10.12 Statute of Limitations 384§ 10.13 Concept of Trust Income 384(a) Basic Principles 384(b) Definition of Income 386(c) Capital Gains andLosses 387§ 10.14 Penalties 387The complexities of the law of charitable giving are manifold, and are limitedonly by the intricacies of the federal tax law and the imaginations of gift planners,regulators, and litigants. These other aspects of deductible charitable givingare treated in this chapter.§ 10.1 VALUATION OF PROPERTYCharitable gifts are frequently made of property. These gifts to charity may beoutright contributions of property or of a partial interest in an item of property. 355