Founder can’t deduct gifts to her own charity

The co-founder of a 501(c)(3) ferret rescue and sanctuary organization has been denied deductions of more than $7500 for contributions she made to her own charity. The Tax Court has said the gifts were each for $250 or more and she did not obtain a proper acknowledgment letter from the organization. The Court has upheld the position of the IRS that she had failed to comply with the substantiation requirements.

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Founder can’t deduct gifts to her own charity

Founder can’t deduct gifts to her own charity