Contribution to 501 (c) (3) fundation


T

TAXQA

I have had the 501 (c)(3) since Dec. 20, 2003. I contributed
$10000 to the fundation on Jan 10, 2004. Can this
contribution belong to 2003?

Thank you.

TAXQA
 
P

Paul A Thomas

TAXQA said:
I have had the 501 (c)(3) since Dec. 20, 2003. I contributed
$10000 to the fundation on Jan 10, 2004. Can this
contribution belong to 2003?
That would be a foundation, and if deductible at all, it
would be in the year paid.
 
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F

Frederick Jorden

TAXQA said:
I have had the 501 (c)(3) since Dec. 20, 2003. I contributed
$10000 to the fundation on Jan 10, 2004. Can this
contribution belong to 2003?
No. That was a 2004 contribution.
 
P

Phil Marti

I have had the 501 (c)(3) since Dec. 20, 2003. I contributed
$10000 to the fundation on Jan 10, 2004. Can this
contribution belong to 2003?
No.

Phil Marti
Topeka, KS
 
H

Helen P. OPlanick EA

I have had the 501 (c)(3) since Dec. 20, 2003. I contributed
$10000 to the fundation on Jan 10, 2004. Can this
contribution belong to 2003?
No.

Helen, EA in PA
Member of The Tax Gang
Director, National Assoication of Enrolled Agents
Immediate Past President, PA Society of Enrolled Agents
 
H

Harlan Lunsford

TAXQA said:
I have had the 501 (c)(3) since Dec. 20, 2003. I contributed
$10000 to the fundation on Jan 10, 2004. Can this
contribution belong to 2003?
Huh? What do you mean, you "have had the 501 c 3
since.....?" Is this a business you own? (sly wink to other
tax pros here.)

Cheer$$,
Harlan Lunsford, EA n LA
 
C

Christopher Green

I have had the 501 (c)(3) since Dec. 20, 2003. I contributed
$10000 to the fundation on Jan 10, 2004. Can this
contribution belong to 2003?
No, a charitable contribution made in 2004 is deductible in
2004, not in 2003.
 
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P

Paul A Thomas

Harlan Lunsford said:
TAXQA wrote:
Huh? What do you mean, you "have had the 501 c 3
since.....?" Is this a business you own? (sly wink to other
tax pros here.)
I saw that Harlan, but thought it could be some kind of
Private Foundation where a contribution deduction could be
taken for monies contributed.
 

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