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Your Finance Questions, June 2008

Question. I dropped a number of charitable contributions in the mail on December 31, 2007. Some of them were reported as 2007 contributions but one (for $1,000) was reported as a 2008 contribution. I called the church and found that this envelope was postmarked January 2, 2008. The rest of the envelopes were postmarked in 2007. The church treasurer informed me that, because the postmark date (2008) was controlling, he had to include this as a 2008 contribution. Is this true? Is the check that is mailed in 2007 but postmarked in 2008, deductible in 2008?

Answer. Section 170 of the tax code states that “there shall be allowed as a deduction any charitable contribution payment of which is made within the taxable year.” Section 1.170A-1 of the regulations states that “the unconditional delivery or mailing of a check which subsequently clears in due course will constitute an ...

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  • June 25, 2008

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