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This page contains a single entry by Associate Editor published on February 6, 2009 8:08 AM.

IRS Tax Tip 2009-24: Five Important Changes for Taxpayers was the previous entry in this blog.

Issuance of Endowment Shares to Trust will Not Create UBTI (Unrelated Business Taxable Income) is the next entry in this blog.

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Trust is Granted Extension to Take Charitable Deduction

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The Internal Revenue Service issued a letter ruling that a trust is granted extension to take charitable deduction. According to the ruling, a trust is granted an extension to elect a section 642(c) charitable deduction for a particular tax year even though the gift was made during another tax year.

See Internal Revenue Service, "Trust Granted Extension to Take Charitable Deduction," 2009 Tax Notes 19-31 (Feb. 2, 2009).

Posted by Min Young Choi, Associate Editor, Wealth Strategies Journal.

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