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GiftLaw Pro Home   >  Chapter 1 - Taxation and Giving  >  1.6 Substantiation of Gifts  >  1.6.3 "Quid Pro Quo" Gifts  >  Basic Quiz

Basic Quiz - 1.6.3 "Quid Pro Quo" Gifts

1. Charities may honor their donors but may not provide them with goods or services.
           
2. "Quid pro quo" is where a donor illegally elicits an excessively high appraisal from a professional appraiser to produce a larger charitable deduction.
           
3. A "quid pro quo" gift that exceeds $75 is not allowed by the Tax Code.
           
4. A gift of services by the charity to the donor is an exception to the "quid pro quo" rules.
           
5. A volunteer may deduct expenses directly related to his or her work with the charity.
           
6. "Quid pro quo" is a Latin term that means "this for that."
           
7. In valuing a "quid pro quo" gift, the charity must use the comparative sales method because it is deemed the most accurate.
           
8. According to the Tax Code, a "quid pro quo" contribution is treated as a part sale/part gift transaction.
           
9. A charity naming a building after a donor who has made a substantial gift is an example of a "quid pro quo" gift.
           
10. A charity providing a college education to a donor's child in exchange for the full payment of tuition by the donor is an example of a "quid pro quo" gift.