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GiftLaw Pro Home   >  Chapter 4 - Specific Property Gifts  >  4.5 Inventory  >  4.5.2 Qualified Research Contributions  >  Basic Quiz

Basic Quiz - 4.5.2 Qualified Research Contributions

1. When inventory is donated to charity, the resulting tax deduction is generally equal to the cost basis of the inventory.
           
2. Qualified research contributions to charity receive an enhanced deduction.
           
3. Both individuals and corporations can make qualified research contributions.
           
4. Qualified research contributions must be made to educational institutions.
           
5. Inventory must have been specifically constructed for the donee to meet the requirements of a qualified research contribution.
           
6. The gift portion of a bargain sale of research equipment may be a qualified research contribution.
           
7. A high school is an "educational institution" that can receive a qualified research contribution.
           
8. A Sec. 501(c)(3) tax exempt organization may receive a qualified research contribution if it is organized and operated primarily to conduct scientific research.
           
9. The donor must receive a statement from the educational or scientific organization that the property will be used for research or experimentation.
           
10. A private school will not qualify as an educational institution for purposes of the increased deduction.