If a taxpayer contributes a painting to a museum but reserves the right to use the painting for parties, he may not be allowed a

Question

yaroslaw [1]

3 years ago

10

If a taxpayer contributes a painting to a museum but reserves the right to use the painting for parties, he may not be allowed a

deduction for the charitable contribution.
a. True
b. False

Social Studies

1 answer:

KengaRu [80] · Answer 1 · 2022-07-09T21:44:36+03:00

The statement is true that if a taxpayer contributes a painting to a museum but reserves the right to use the painting for parties, he may not be allowed a deduction for the charitable contribution. If he donates or contributes the painting without certain conditions of his/her ownership, then he will be allowed for that deduction.

The answer would be letter A.