On 5/31/22 4:16 PM, bc wrote:
In general, a trust is allowed to make charitable donations so
long as the trustee has been granted the power in the trust
document.
Further, my understanding is donations would be allowed as a
deduction from current year income when made (or in appropriate
cases when permanently set aside).
What happens to "excess" donations? Are they lost, like other
excess deductions on a trust return? Or do they carry forward
similar to individual returns?
There is no carryover provision for "excess donations" made by a complex
trust. They are lost. There is a provision for making an election to
treat a charitable contribution as having been made in the preceding
year. This is explained in IRS Regulation 1.642(c)-1(b).
--
Alan
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