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Discussion Question 28-7 (LO. 2) In year 1, the Helpful Trust agreed to make a $50,000 cash contribution to Local Soup Kitchen, a charitable
Discussion Question 28-7 (LO. 2) In year 1, the Helpful Trust agreed to make a $50,000 cash contribution to Local Soup Kitchen, a charitable organization. Helpful's board agreed to the gift at a November year 1 meeting, but the check was not issued until February 20, year 2 (1.e., during the next tax year). a. Indicate whether the following are "True" or "False" regarding the conditions under which the trust is allowed to claim a charitable contribution deduction. The gift is determinable in both existence and amount to the controlling will or trust agreement. The payment is made during the following tax year. The entity is allowed a deduction for the gift that is paid from current-year gross income. Qualified charitable organizations exclude all non-U.S. charitable organizations. b. Would the answer to part (a) change if the check was issued on May 1, year 2? If so, how? wale witten
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