Legal Question in Business Law in California

Are contributions prior to an organization recieving a 501c3 tax deductible one the organization recieves it's 501c3 status? ie: If I gave $100 to a church in February of 2010 while it is getting its 501c3 can I deduct it when I file taxes if the church gets its 501c3 in 2010?

Asked on 2/05/10, 11:47 pm

1 Answer from Attorneys

Shahram Miri Law Offices of Shahram Miri (408) 866-8382
0 users found helpful
0 attorneys agreed

Yes, a 501(c)(3) is typically granted retroactive exemption. Obviously the key is that the 501(c)(3) actually get nonprofit status eventually.

For example, I formed a nonprofit for a client last year. The corporation was incorporated in August but tax exempt status was not granted until November. However, any donations made after August to the nonprofit would qualify as a charitable donation that a donor could write off on their taxes.

Read more
Answered on 2/11/10, 7:45 am

Related Questions & Answers

More Business Law questions and answers in California

Looking for something else?

Get Free Legal Advice

88413 active attorneys ready to answer your legal questions today.

Business Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Michelle ScopelliteGoldstein & Scopellite, PCTucson, AZ
Barry SteinDe Cardenas, Freixas, Stein & ZacharyMiami, FL
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now