IRS Publication 78

AAA

DEFINITION of 'IRS Publication 78'

A document published by the Internal Revenue Service (IRS) that lists organizations that qualify to receive tax-deductible contributions, as described in Section 170(c) of the Internal Revenue Code of 1986. Individuals can claim deductions of both cash and noncash items made to qualified organizations, with typical deductions not exceeding 50% of the taxpayer's adjusted gross income (AGI).

INVESTOPEDIA EXPLAINS 'IRS Publication 78'

The IRS offers an online version of IRS Publication 78 on its website, which allows taxpayers to quickly check to see if a charitable organization qualifies for tax-deductible contributions. The list is not all-inclusive and might not show every qualifying organization, so an individual tax filer should check to see if an organization has a ruling or determination letter indicating that contributions to it are considered deductible.


IRS Publication 78 should be viewed in conjunction with IRS Publication 561 and IRS Publication 526.

RELATED TERMS
  1. Form 8282: Donee Information Return

    An IRS tax form used by organizations to report the sale or disposition ...
  2. IRS Publication 526

    A document published by the Internal Revenue Service (IRS) that ...
  3. Tax Deduction

    A deduction from gross income that arises due to various types ...
  4. Adjusted Gross Income - AGI

    A measure of income used to determine how much of your income ...
  5. Gift

    Property, money or assets that one person transfers to another ...
  6. 1040 Form

    The standard Internal Revenue Service (IRS) form that individuals ...
Related Articles
  1. Taxes

    Deducting Your Donations

    Generosity may be its own reward, but some charitable giving also provides personal tax benefits.
  2. Retirement

    Gifting Your Retirement Assets To Charity

    There are several things to consider when it comes to this type of charitable giving. Make sure you're well informed.
  3. Taxes

    Give To Charity; Slash Your Tax Payment

    Being generous has never been more (financially) rewarding!
  4. Taxes

    10 Most Overlooked Tax Deductions

    The receipts you cram into your wallet could be replaced with cash come tax season.
  5. Savings

    How Microeconomics Affects Everyday Life

    Microeconomics is the study of how individuals and businesses make decisions to maximize satisfaction. Microeconomic principles can describe many everyday experiences. We use renting a New York ...
  6. Taxes

    How Does An IRS Audit Work?

    It doesn't automatically mean an IRS agent will be ringing your doorbell. Here are the different types of IRS audits and how to handle them.
  7. Taxes

    Switzerland's Declining Tax Haven Appeal

    Switzerland's tax haven allure is being threatened by efforts by the US and other governments to make Swiss banks give up their much-vaunted secrecy.
  8. Taxes

    Are You Missing Out On These Tax Exemptions?

    To lower your tax bill, make sure that you're taking all the exemptions that apply to you.
  9. Economics

    Venezuela Teeters On Edge As Oil Revenues Shrink

    Low oil prices have drastically revised the economic status quo -- dealing a destabilizing blow to oil-exporters like Venezuela due to falling oil revenue.
  10. Economics

    What Must The UK Do To Keep North Sea Oil Afloat?

    The UK government may need to take drastic action to ensure the viability of UK North Sea offshore oil production amid high costs and shrinking margins.

You May Also Like

Hot Definitions
  1. Interest Rate Risk

    The risk that an investment's value will change due to a change in the absolute level of interest rates, in the spread between ...
  2. Income Effect

    In the context of economic theory, the income effect is the change in an individual's or economy's income and how that change ...
  3. Price-To-Sales Ratio - PSR

    A valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the ...
  4. Hurdle Rate

    The minimum rate of return on a project or investment required by a manager or investor. In order to compensate for risk, ...
  5. Market Value

    The price an asset would fetch in the marketplace. Market value is also commonly used to refer to the market capitalization ...
  6. Preference Shares

    Company stock with dividends that are paid to shareholders before common stock dividends are paid out. In the event of a ...
Trading Center