A charitable gift is considered to be made on the date of delivery. This determines the tax year when the gift is deductible, the value of the gift for assets that fluctuate in value, and whether a gift is of long-term or short-term property. The way the delivery is made, whether it is hand-delivered or mailed, also determines what the delivery date is. This column also discusses other things people should know about charitable gifts. It provides information on real estate, options, promissory notes, and the rules and regulations dealing with credit card gifts. People that are looking for more information and assistance with charitable gift giving should set up a meeting with an experienced estate planning professional.
See Conrad Teitell, Charitable Gifts: Date of Delivery Rules, Wealth Management, October 30, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
