Delivery: Text Based
Credit Hours: 4
Field of Study: Federal Tax Update
Approval: IRS, CTEC
Charitable giving tax law is complex. The Internal Revenue Service has several requirements that
relate to donor tax deductions for cash and noncash gifts to charities. Although the applicable tax laws
governing specific charitable gifts can be somewhat complex, there are three basic issues that must be
addressed to determine deductibility.
This 3-CE hour basic level online self-study course, Charitable Contributions, prepares you to address
the above three basic questions by guiding you through the following learning objectives:
Identify qualified and nonqualified organizations to receive deductible contributions
Identify and apply additional limiting factors pertaining to certain charitable deductions
Identify allowable out-of-pocket expenses that qualify as charitable deductions
Identify how possession and control rules apply to contributions
Calculate the allowable current year and carryover charitable deductions by applying the
respective adjusted gross income limitations and "ordering rules"
Identify the appraisal, recordkeeping, and reporting requirements for deductible contributions
Clarification needed regarding the new 60% limit.
Additional clarification and/or technical correction to the TCJA (Public Law 115-97) is needed as
to how to apply the new 60% overall charitable contributions limit. Perhaps administrative
guidance will be forthcoming before the end of 2018 which may address the 60% limit and some
of the other many questions arising from the TCJA. Otherwise, some of the many questions
arising from the TCJA may be resolved through the technical corrections process which, based
on history, may take more than a year to resolve.