No deduction for donated aircraft without contemporaneous written acknowledgment

The U.S. Tax Court held that a taxpayer wasn’t entitled to a charitable deduction for his alleged gift of his interest in an aircraft. He didn’t claim the deduction on his original tax return but rather on an amended return filed nearly six years after the donation. And the documentation attached to his amended return 1) wasn’t a “contemporaneous written acknowledgment” as required by the tax code and 2) didn’t satisfy the statute’s strict substantiation requirements. (148 TC No. 5)