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Charity Gave Contribution Back

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    #1

    Charity Gave Contribution Back

    Question: file amended 2007 return?

    IRS approved charity gave back a 2007 $10,000 contribution because it decided in 2008 not to continue with the specific project .

    Client had taken the deduction on 2007 tax return but given the $10,000 back in 2008 by the IRS approved charity.

    Thanks in advance
    Always cite your source for support to defend your opinion
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    #2
    It is called a recovery of an itemized deduction. You will find the rules under recoveries in TTB page 3-21 on how to report it. The explanation in TTB is clear and easy to understand.

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      #3
      Thank You

      Thank You and Happy Holidays
      Always cite your source for support to defend your opinion

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