The Julius Trust made a gift to the United Charity on April 1, Year Two, from its Year One business profits. The trust's charitable contribution deduction can be claimed in either Year One or Year Two.

Question

Quizplus · Accepted Answer

Charitable contribution deductions can generally be claimed in the year the donation was made, or carried over to future years if the full deduction cannot be claimed in the current year. Therefore, the Julius Trust can claim the deduction in either Year One or Year Two.

The Julius Trust Made a Gift to the United Charity