Tax Planning for Charitable Contributions & Deductions


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question 1 of 3

Which of the following is not a tax deductible charitable contribution?

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1. Which of the following is a good guideline for determining an item's fair market value?

2. Which is TRUE when donating stock shares that have risen in the value?

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About This Quiz & Worksheet

Understanding charitable contributions and deductions on your taxes can be very helpful, and this quiz/worksheet contains questions that will test your understanding of them.

Quiz & Worksheet Goals

These assessments will measure your knowledge of the following:

  • Charitable contributions that are tax deductible
  • Guidelines for deciding an item's fair market value
  • Benefit of donating shares of stock that have increased in value
  • Qualified organizations that can get tax deductible donations
  • Impact a deductible has on a person's income taxes

Skills Covered

  • Reading comprehension - be sure you grasp the most important information from the lesson about deductions and charitable contributions
  • Making connections- make the connection between qualified organizations and deductions
  • Defining key concepts - confirm that you can correctly define related phrases, like fair market value and qualified organization

Additional Learning

To discover more information about deductions for charitable contributions on taxes, review the related lesson called Tax Planning for Charitable Contributions & Deductions. The lesson will help you complete these objectives:

  • Understand the limits of deductions
  • Explain that you can donate other items besides cash and checks, like stocks
  • Learn about good practices like keeping a record of each charitable contribution