Sentences with phrase «recipient for income tax purposes»
Not exact matches
If the donor shows a «detached and disinterested generosity,» the item given will be considered a gift for purposes of excluding its value from the recipient's income tax.
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It applies to non-charitable funds established under a will or instrument of trust solely for: the purpose of providing money, property or benefits to income tax exempt deductible gift recipients (DGRs), or the establishment of DGRs.