In article <[log in to unmask]>, Ross Weeks
<[log in to unmask]> wrote:
>Gail, the IRS recognizes only gifts given IN the tax year.  Written pledges
>etc., for one thing, don't hold up in court.  You cannot issue a receipt
>for any gift until you have it in hand (you could, but you'd be violating
>the law as I understand it to read) and therefore the donor would have
>nothing to show IRS.

It appears that a signed and acknowledged deed of gift "would" need to suffice
for some instances.  For example, the receipt of a gift (of ownership via a
deed) of a monumental work stored in a warehouse or on the donor's property
might not be possible in a physical sense until some many months later due to
shipping or installation complications.  However, it seems that securing a
countersigned, binding contract of ownership would be sufficient to "prove"
ownership at the date of the contract, not the date of physical possession.

It would be interesting to know if this concern varies (in the USA or
elsewhere) by state, etc...


Kevin W. Tucker
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(remove the "*" from my address to reply)