Section 170 Irc

Also it includes state federal and other public supported schools which are clearly defined within this.

Section 170 irc. It is well established that a charity may receive contributions through its authorized agent. Section 170 c defines charitable contribution in part as a contribution to or for the use of an entity described in 170 c 2. 170 a allowance of deduction i r c.

Internal revenue code 170. For purposes of section 170 f 11 and 1 170a 16 d 1 ii and e 1 ii the term qualified appraisal means an appraisal document that is prepared by a qualified appraiser as defined in paragraph b 1 of this section in accordance with generally accepted appraisal standards as defined in paragraph a 2 of this section and otherwise complies with the requirements of this paragraph a. Section 170 b 1 a ii refers to educational organizations such as universities and primary schools which are excluded from private foundation status as per the irc 509 a 1.

Providing for the determination of an amount to be treated as net income of the donee which is properly allocable to qualified intellectual property in the case of a donee who uses such property to further a purpose or function constituting the basis of the donee s exemption under section 501 or in the case of a governmental unit any purpose described in section 170 c and does not possess a right to receive any payment from a third party with respect to such property. Code unannotated title 26. This consist of institutions like primary preparatory secondary or high schools and universities and colleges.

For purposes of this section the term charitable contribution means a contribution or gift to or for the use of. An educational organization is described in section 170 b 1 a ii if its primary function is the presentation of formal instruction and it normally maintains a regular faculty and curriculum and normally has a regularly enrolled body of pupils or students in attendance at the place where its educational activities are regularly carried on. Charitable etc contributions and gifts.

See e g 1 170a 1 b of the income tax regulations. 170 u s. The court noted that the irc 170 f 8 a requirement that taxpayers obtain a contemporaneous written acknowledgment cwa for charitable contributions of 250 or more is a strict one and that in the absence of such an acknowledgment no deduction is allowed.