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Study guide for Charitable Contributions

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The study guide is provided to guide you through the course material in a step by step format.

Reading assignments are for "Charitable Contributions."

1) Introduction

Reading Assignment: Introduction <<>> Review Question: # 1

The learning objectives for this lesson are to gain an understanding of:

  • What this course covers
  • Definition of qualified organizations
  • Why you must file a Form 1040 to deduct a charitable contribution

2) Qualified Organizations 

Reading Assignment: Chapter II <<>> Review Question: # 2

The learning objectives for this lesson are to gain an understanding of:

  • Types of qualified organizations

3) Deductible Contributions

Reading Assignment: Chapter III <<>> Review Questions: # 3-5

The learning objectives for this lesson are to gain an understanding of:

  • General guidelines for deductible contributions
  • Deductibility of contributions from which you benefit
  • Out-of -pocket expenses in giving services

4) Non-Deductible Contributions

Reading Assignment: Chapter IV <<>> Review Questions: # 6

The learning objectives for this lesson are to gain an understanding of:

  • Contributions to individuals
  • Contributions to nonqualified organizations
  • The value of your times or services
  • Your personal expenses
  • Appraisal fees
  • Certain contributions of partial interests in property

5) Types of Property You Can Contribute

Reading Assignment: Chapter V <<>> Review Questions: # 7-8

The learning objectives for this lesson are to gain an understanding of:

  • Special rules that may apply to contributions of property
  • How to determine fair market value
  • Giving property that has increased or decreased in value

6) When to deduct

Reading Assignment: Chapter VI <<>>Review Question:  None

The learning objectives for this lesson are to gain an understanding of:

  • When your contribution is considered to have been delivered

7) Deduction Limits

Reading Assignment: Chapter VII <<>> Review Question:  None

The learning objectives for this lesson are to gain an understanding of:

  • The 50% limit
  • 50% limit organizations
  • The 30% limit
  • Special 30% limit for capital gain property
  • How to figure your deduction when limits apply

8) Keeping Records

Reading Assignment: Chapter VIII<<>>Review Questions: # 9-10

The learning objectives for this lesson are to gain an understanding of:

  • Cash vs non-cash contribution records
  • The kind of records your must keep depending on the amount of the contribution