When does a personal check count as a 2005 gift: (a) when it is "given" (TBD) to the recipient; or (b) when it is cashed by the recipient?
I thought it was #A, subject to the definition of "given". But the following web site says #B:
>
>
>
>
>
>
>
Are we seeing the same thing even? Here is what I just read on that web page: "If you donate cash to a charitable organization, you can deduct your donation in 2005 as long as you mail your check by December 31." So you thought right.
ChEAr$, Harlan Lunsford, EA n LA
Charitable contributions follow the date on the check. Gifts to people follow the date the check is cashed. Ira Smilovitz
Not really. If I make out a check to the Salvation Army on December 31st, but don't deliver it (in person versus US Mail) to them until January 2nd, there's no way this can be a legitimate prior year's deduction. ChEAr$, Harlan Lunsford, EA n LA Sun Jun 4, 2006
If you deliver it, it doesn't have the advantage of the timely mailing rule (which sometimes is extended to more than just the filing of tax returns)....
Have something to add? Share your thoughts — no account required.
Ask the community — no account required