Charitable Contributions Made by a Fiduciary

question 11

Multiple Choice

Charitable contributions made by a fiduciary

• A) flows through to be deducted on the beneficiary's tax return.
• B) are limited to 50% of fiduciary income.
• C) must be authorized in the trust instrument in order to be deductible.
• D) are subject to the 2% floor.

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Definitions:

Self-Monitoring

The extent to which individuals regulate their behavior to adapt to social situations, based on their awareness of social cues and their desire to be socially accepted.

Attitude Relevance

The degree to which an individual's belief, feeling or behavior is connected or pertinent to their values, interests, or identity.

Mergers

The combination of two or more companies into a single entity, typically to enhance competitive positioning or expand market reach.

Consolidations

Combinations of two or more corporations where none of the original corporations continue to exist as a legal entity.