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Bad News for Noncash Contributions Logo aicpa

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  Gerard H. Schreiber Jr., CPA |   Free |   AICPA |   01 Jan 2016 |   Tax Adviser Magazine
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This article discusses a tax court opinion (Kunkel, T.C. Memo. 2015-71) which clarifies the misconceptions taxpayers have about their charitable contributions of household items, etc., on the receipt received and the amount of deduction they are entitled to.

Topics covered:
  • Tax: Technical: Individual income taxation : Deductions, Foundational
  • Tax: Technical: Practice management & professional standards, Foundational

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