Question

Which of the following statements is false? (5 points)

a. A gift to a qualified charitable organization may entitle you to a tax deduction.
b. All charitable organizations qualify for a charitable contribution deduction.
c. You should document your charitable contributions for tax purposes.
d. A contribution to a qualified charity is deductible in the year in which it is paid.

Answer 1

b. All charitable organizations qualify for a charitable contribution deduction.

Step-by-step explanation:

It is false that all charitable organizations qualify for a charitable contribution deduction. You may be able to deduct a charitable contribution as long as this was made to a charity that is qualified under section 170(c) of the Internal Revenue Code. Therefore, it is important that you check whether a charity belongs to this category before attempting to claim a tax deduction.