Estate Planning and Philanthropy

Chutzpah Charitable Gift Valuation Case of the Decade

, New York Law Journal

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In his Estate Planning and Philanthropy column, Conrad Teitell reviews a recent case where a claimed $33 million charitable deduction—a remainder interest in real property given to a university—was disallowed because the donor failed to state the contributed property's cost on Form 8283, and according to the Tax Court, was about $29.5 million too high anyway.

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