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GiftLaw Pro Home   >  Chapter 1 - Taxation and Giving  >  1.6 Substantiation of Gifts  >  1.6.1 Gift Substantiation  >  Basic Quiz

Basic Quiz - 1.6.1 Gift Substantiation

1. To substantiate a charitable gift, a receipt from the charity is required for gifts of $50 or more.
           
2. A "quid pro quo" gift that exceeds $75 or more is not allowed by the Tax Code.
           
3. A gift of services by the charity to the donor is an exception to the "quid pro quo" rules.
           
4. The gift receipt from the charity must be received at the time of the charitable contribution.
           
5. A lawyer who donates her legal services to charity may take a charitable deduction for the fair value of her time.
           
6. A volunteer may deduct expenses directly related to his or her work with the charity.
           
7. Because a gift to a charitable remainder unitrust or annuity trust is a complex type of gift, a donor must obtain a gift receipt from the charity briefly describing the transfer.
           
8. Because a gift to a pooled income fund or charitable gift annuity is a gift to a charity, a donor must obtain a gift receipt from the charity briefly describing the transfer.
           
9. A noncash charitable contribution of $250 does not trigger the filing requirement of Form 8283.
           
10. A noncash contribution of $1,000 requires the filing of Form 8283 and a qualified appraisal.