The Julius Trust made a gift to the United Charity on August 1, year 2, from its year 1 business profits. The trust's charitable contribution deduction can be claimed in year 2.

Question

Quizplus · Accepted Answer

The Julius Trust can claim the charitable contribution deduction in the year the gift was actually made to the United Charity, which is year 2, regardless of when the profits were earned.

The Julius Trust Made a Gift to the United Charity