GiftLaw Pro, our charitable tax reference service, features detailed information on gift and estate planning strategies. It includes links to relevant Internal Revenue code sections, regulations, rulings, cases and more.

1. Donors who wish to give only a partial interest in their property to charity (as opposed to their entire interest) risk receiving no charitable deduction.

True False

2. A gift to a nonprofit of the right to use land for a period of time with the donor retaining the ownership of the land is an example of a nondeductible partial interest gift.

True False

3. A gift of an undivided interest in real property is a nondeductible partial interest gift.

True False

4. An undivided interest gift could be a fractional interest defined as a percentage of each year.

True False

5. A charitable remainder unitrust and a charitable remainder annuity trust are deductible gifts even though a donor retains an interest in the trusts.

True False

6. A gift to charity of a remainder interest in a home or farm is a deductible gift.

True False

7. A farm is land that is used for the production of agricultural products.

True False

8. A donor may retain a term of years life estate in a home or farm.

True False

9. A transfer of a qualified conservation easement to charity is a nondeductible partial interest gift.

True False

10. Qualified farmers and ranchers may deduct 100% of the excess of the taxpayer's contribution base over the amount of all other allowable charitable contributions.

True False

Basic Quiz - 1.1.5 Gifts of Partial Interests in Property