The Tax Law of Charitable Giving. Bruce R. Hopkins. Читать онлайн. Newlib. NEWLIB.NET

Автор: Bruce R. Hopkins
Издательство: John Wiley & Sons Limited
Серия:
Жанр произведения: Личностный рост
Год издания: 0
isbn: 9781119756026
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was denied on the ground that what was physically conveyed (principally, negatives on nitrate-based plastic) had little value; the donor claimed a deduction of more than $10 million.158 Also, a motion picture production company retained access to the property and was relieved of storage costs and potential liability, which the court found to undercut the concept of a gift.

      Over the years, however, the state and the corporation had acted as though the property line were at the place established by the second survey. The state maintained the park property, including the disputed parcel, and placed signs around the park (and the property at issue) identifying all of it as park land. Based on these and other facts, the court concluded that the state had acquired title to the property in dispute by virtue of the doctrine of adverse possession. Thus, although the corporation thought it owned this land at the time of the intended gift, the title, unknown to the corporation, had already shifted to the state by operation of law. Therefore, the charitable deduction was denied, on the basis of the fundamental principle that there cannot be a charitable contribution deduction for a “gift” of property that the “donor” did not own at the time of the transaction.

      In this case, a married couple placed their two children with learning disabilities in a private school, rather than a public one, because of the inability of the public school to adequately serve the children's academic needs. The couple relied on the Individuals with Disabilities Education Act (IDEA) for the assertion that they were entitled to reimbursement from the public school system for the tuition and other expenses incurred in connection with their children's attendance at the private school. They endeavored, nonetheless, to forgive the system's obligation to reimburse them for the expenses and claimed a charitable contribution deduction for the amount forgiven.