Question

If a taxpayer contributes a painting to a museum but reserves the right to use the painting for parties, he may not be allowed a deduction for the charitable contribution.

a. True
b. False

Answer 1

If a tax payer contributes a painting to a museum but reserves the right to use the painting for parties, he may not be allowed a deduction for the charitable contribution. This is because he still has part ownership of the painting.

The answer is letter A. True.