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Abstract: 

The income tax rules regarding deductions for charitable gifts can be overwhelming for a nonprofessional. The complexities of the rules applicable to private foundation gifts are a case in point. Broadly stated, the income tax charitable deduction rules applicable to private foundations are less generous than those applicable to public charities (see Table 1 on p. 8 for a comparison). Understanding the basics—and consulting an accountant prior to the transaction—are critical if contributors want to make the most tax effective gifts.

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