Wednesday, May 8, 2024
Specific Property Gifts

4.5.2 Basic Quiz -- Qualified Research Contributions
When inventory is donated to charity, the resulting tax deduction is generally equal to the cost basis of the inventory.
     True      False
Qualified research contributions to charity receive an enhanced deduction.
     True      False
Both individuals and corporations can make qualified research contributions.
     True      False
Qualified research contributions must be made to educational institutions.
     True      False
Inventory must have been specifically constructed for the donee to meet the requirements of a qualified research contribution.
     True      False
The gift portion of a bargain sale of research equipment may be a qualified research contribution.
     True      False
A high school is an "educational institution" that can receive a qualified research contribution.
     True      False
A Sec. 501(c)(3) tax exempt organization may receive a qualified research contribution if it is organized and operated primarily to conduct scientific research.
     True      False
The donor must receive a statement from the educational or scientific organization that the property will be used for research or experimentation.
     True      False
A private school will not qualify as an educational institution for purposes of the increased deduction.
     True      False



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